Taxation Exam > Taxation Videos > Income Tax for assessment (Inter Level) > 80TTA. Deduction in Respect of Interest on Saving Bank Account
80TTA. Deduction in Respect of Interest on Saving Bank Account Video Lecture | Income Tax for assessment (Inter Level) - Taxation
|
405 videos|72 docs
|
FAQs on 80TTA. Deduction in Respect of Interest on Saving Bank Account Video Lecture - Income Tax for assessment (Inter Level) - Taxation
| 1. What is the deduction under section 80TTA for interest on a savings bank account? |  |
Ans. Under section 80TTA of the Income Tax Act, individuals and Hindu Undivided Families (HUFs) are eligible for a deduction on the interest earned from a savings bank account. The deduction is available up to a maximum of Rs. 10,000 per financial year.
| 2. Who is eligible for the deduction under section 80TTA? | |
Ans. Individuals and HUFs who earn interest from a savings bank account are eligible for the deduction under section 80TTA. This deduction is not available for interest earned from fixed deposits, recurring deposits, or any other type of bank deposit.
| 3. What is the maximum amount that can be claimed as a deduction under section 80TTA? | |
Ans. The maximum amount that can be claimed as a deduction under section 80TTA is Rs. 10,000 per financial year. If the interest earned from a savings bank account is less than Rs. 10,000, the actual interest amount will be allowed as a deduction.
| 4. Can I claim this deduction for interest earned from multiple savings bank accounts? | |
Ans. Yes, you can claim the deduction under section 80TTA for interest earned from multiple savings bank accounts. However, the maximum deduction amount remains Rs. 10,000 per financial year, irrespective of the number of savings bank accounts you hold.
| 5. Is the deduction under section 80TTA available for senior citizens? | |
Ans. No, the deduction under section 80TTA is not available for senior citizens. Senior citizens are eligible for a separate deduction on interest earned from savings accounts under section 80TTB, which allows a maximum deduction of Rs. 50,000 per financial year for senior citizens.
Related Exams
About this Video
|
Dec 20, 2024 Last updated |
Video Description: 80TTA. Deduction in Respect of Interest on Saving Bank Account for Taxation 2024 is part of Income Tax for assessment (Inter Level) preparation.
The notes and questions for 80TTA. Deduction in Respect of Interest on Saving Bank Account have been prepared according to the Taxation exam syllabus.
Information about 80TTA. Deduction in Respect of Interest on Saving Bank Account covers all important topics for Taxation 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for 80TTA. Deduction in Respect of Interest on Saving Bank Account.
Introduction of 80TTA. Deduction in Respect of Interest on Saving Bank Account in English is available as part of our Income Tax for assessment (Inter Level) for Taxation & 80TTA. Deduction in Respect of Interest on Saving Bank Account in
Hindi for Income Tax for assessment (Inter Level) course. Download more important topics related with notes, lectures and mock test series for
Taxation Exam by signing up for free.
Description
Video Lecture & Questions for 80TTA. Deduction in Respect of Interest on Saving Bank Account Video Lecture | Income Tax for assessment (Inter Level) - Taxation - Taxation full syllabus preparation | Free video for Taxation exam to prepare for Income Tax for assessment (Inter Level).
Information about 80TTA. Deduction in Respect of Interest on Saving Bank Account
Here you can find the meaning of 80TTA. Deduction in Respect of Interest on Saving Bank Account defined & explained in the simplest way possible.
Besides explaining types of 80TTA. Deduction in Respect of Interest on Saving Bank Account theory, EduRev gives you an ample number of questions to practice 80TTA. Deduction in Respect of Interest on Saving Bank Account tests,
examples and also practice Taxation tests.
|
405 videos|72 docs
|
|
Explore Courses for Taxation exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
Exam
,Sample Paper
,past year papers
,80TTA. Deduction in Respect of Interest on Saving Bank Account Video Lecture | Income Tax for assessment (Inter Level) - Taxation
,practice quizzes
,study material
,Important questions
,shortcuts and tricks
,Semester Notes
,Extra Questions
,MCQs
,Previous Year Questions with Solutions
,video lectures
,80TTA. Deduction in Respect of Interest on Saving Bank Account Video Lecture | Income Tax for assessment (Inter Level) - Taxation
,ppt
,Viva Questions
,Objective type Questions
,80TTA. Deduction in Respect of Interest on Saving Bank Account Video Lecture | Income Tax for assessment (Inter Level) - Taxation
,Free
,Summary
,mock tests for examination
;
Study 80TTA. Deduction in Respect of Interest on Saving Bank Account on the App
Students of Taxation can study 80TTA. Deduction in Respect of Interest on Saving Bank Account alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the 80TTA. Deduction in Respect of Interest on Saving Bank Account,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of 80TTA. Deduction in Respect of Interest on Saving Bank Account is prepared as per the latest Taxation syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup