WebApr 13, 2024 · Section 80DDB applies to medical expenses incurred to treat specified diseases or ailments. The objective of this is to include major medical illnesses and … WebJul 25, 2024 · Section 80TTA is introduced with effect from April 01, 2013 and will apply from AY 2013-14 and onwards. Section is introduced to provide deduction to an indivi. ... The interest earned on savings account is exempted from TDS under Section 194A of Income Tax Act i.e No TDS is deducted on interest from saving account.
Section 80TTA Deduction- Interest on Bank savings deposit
WebJun 20, 2024 · Section 80TTA is available to Individuals (other than Senior citizens) & HUF whereas Section 80TTB is available to Senior citizens only. 3. Both the section are applicable in respect of interest received from Banks, Cooperative banks, Post offices etc.. Section 80TTB is made applicable from AY 2024-20 whereas 80TTA is operative from AY … WebSection 80TTA of Income Tax Act - Features, Deductions and Exceptions Section 80TTA Section 80TTA deduction of the Income Tax Act allows the deduction of up to Rs 10,000 … transaminaza gpt alt
How to select tax regime with Income Tax Calculator for FY 2024-24
WebJul 30, 2024 · Section 80TTA – Deduction in respect of interest on deposits in savings account for Individuals (other than Senior citizens) & HUF. Section 80TTA provides a deduction of Rs 10,000 on interest income. This deduction is available to Resident Individual or HUF (other than those assessee who has covered in Section 80TTB). WebSection 80TTA - Tax deduction for interest on savings account As per Section 80TTA of the Income Tax Act (Chapter VI-A), individuals can claim deductions of up to Rs. 10,000 per annum from interest earned on savings accounts’ deposits, that are held in banks, post offices or a cooperative society. WebJul 17, 2024 · Section 80TTA of the Income Tax Act, 1961 deals with the tax deductions granted on interest. This deduction is applicable for interest on savings accounts held by … transaminase piruvica 59