Post Office Savings Accounts (POSA) have emerged as a favourable option for individuals opting for the new tax regime, offering specific tax benefits not available with regular bank savings accounts.

Interest on savings bank account earned upto ₹10,000 per year is allowed as deduction under Section 80TTA of the Income Tax Act. Few more days left to file your income tax return. It is important to ...

The Savings Bank Account operates as a virtual piggy bank. You accrue interest, which then incurs taxation under the category of ‘Income from Other Sources.’ However, numerous individuals remain ...

It may be noted that Section 80TTA provides a deduction of up to Rs 10,000 on interest earned from savings bank deposits. (Image: Freepik) The forthcoming Union Budget for FY2024-25 is just around the ...

Savings account interest is fully taxable under Income from Other Sources, and it is added to your total annual income and ...

What is Income Tax Section 80TTA: According to section 80TTA, you can claim a deduction of up to Rs. 10,000. Interest earned from fixed deposits, recurring deposits, RBI taxable bonds etc. are fully ...

NEW DELHI: The Section 80TTA provides a deduction of Rs 10,000 on interest income to an Individual and Hindu Undivided Family (HUF). Under this Section, the deduction is allowed on interest earned ...

Budget 2023: Given the higher cost of medical expenditure and the need to encourage savings, Section 80D & 80TTA limits need to be increased. Budget 2023: Given the kind of medical expenses which an ...

I was filing ITR online, but I accidentally deleted 80TTA details from the prefilled form. Now, I am trying to remember what the amount was. Please tell me how to check the amount and where to fill it ...