Скачать или смотреть Interest Deduction for Tax - Section 80TTA | Future Generali India Life Insurance

Did you know that the interest earned on savings account too attracts tax? However, you can enjoy tax benefits under Section 80TTA on the interest income of your savings account for a financial year, if you are aware of it.

What is Section 80TTA?
You can claim a tax deduction for upto a maximum amount of ₹10,000 earned as interest on savings account in a bank for a given year as per Section 80TTA of the Income tax Act. This is available only if you operate a savings account with a bank- either public, private or that managed by a co-operative society.

Interest earned on savings account in a post office is also applicable for this benefit. Bank fixed deposits or deposits with non-banking financial companies do not qualify

Watch how you can claim tax deduction of upto ₹10,000 under Section 80TTA. For Senior Citizens, the deduction is upto ₹50,000 under Section 80TTB.

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To know more information on how Section 80TTA can help you save tax on savings account interest income, click the link below.

Link: https://bit.ly/SaveTaxSection80TTA

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