Section 80 TTA: Interest on Savings Account

Arnold13 Oct, 2021Finance

On the off chance that your interest payment is not as much as Rs 10,000, the whole interest payment will be your deduction. If your interest payment is more than Rs 10,000, your allowance will be restricted to Rs 10,000. (You need to consider your all-out revenue pay from all banks where you have accounts). Instructions to claim the deduction ? First add your absolute interest payments under the head ?Income from Other Sources? in your Return. The allowance appears under area 80 Deductions under section 80TTA.