Web3 Oct 2024 · Relief under Section 80TTA is limited to savings accounts while Section 80TTB covers both savings accounts and fixed deposit accounts. Relief under Section 80TTA available to individuals and HUF. Section 80TTB provides relief to only individuals. Section 80TTB provides relief to only resident senior citizens. Share via: Related posts: NRI WebSection - 80TTB. Deduction in respect of interest on deposits in case of senior citizens. 2 Record (s) Page [1 of 1] in 0.031 seconds. TAX INFORMATION AND SERVICES. TAX LAWS & RULES. INTERNATIONAL TAXATION.

Section 80TTB Deduction for Senior Citizens - ClearTax

Web5. Income on Receipt of Capital Asset or Stock-in-Trade by Specified Person from Specified Entity [Section 9B Inserted by Finance Act, 2024 from Assessment Year 2024-22] 6. Heads of Income [Section 14] 7. New Taxation Regime for Individual or HUF [Section 115BAC] Section D--Exempt Incomes. 8. Generally Exempt Incomes [Section 10] 9. WebUnder the new income tax regime, the amount of the rebate under Section 87A for FY 2024-24 (AY 2024-25) has been modified. A resident individual with taxable income up to Rs … fake twin ultrasound

Section 80TTB - Tax on Fixed Deposit for Senior Citizens FY 2024-21

Web20 Jul 2024 · Section 80TTB: Deduction in respect of interest from deposits held by Senior Citizens Deduction upto Rs 50,000/- in respect of interest income from deposits (savings and fixed) held by resident senior citizens (age 60 years or more). Section 80TTA and 80TTB are mutually exclusive. Section 80U: Income Tax Deduction for Disabled Individuals WebFor individuals below the age of 60, the maximum amount of deduction under section 80DDB is Rs.40,000. For senior citizens (above 60), the maximum limit for this deduction … Web19 Oct 2024 · Section 80GG: Rent Paid; Deduction under section 80GG is available if you have paid rent in FY 2024-22 and cannot claim tax benefit under HRA. This is because … fake ultrasound free