Know incomes free from taxes in India
It is said money saved is money earned and who does not like to earn money, if not saving. In this blog, we will tell about the incomes that are …
Section 80TTA
Deductions on Interest on Deposits in Savings Account: Section 80TTA
Section 80TTA of the Act provides deduction on the interest earned on the savings account with a bank / cooperative society / post office. In other words, the deduction is allowed only on interest earned on savings account and not on interest earned or fixed deposits / timed deposits.