Deduction for savings preserved for individuals and HUFs when deposits made with permitted savings intermediaries under prescribed scheme. A deduction is allowed to an individual or Hindu undivided family for aggregate sums paid to, or deposited in, accounts with a permitted savings ... Summary
Deduction for savings preserved for individuals and HUFs when deposits made with permitted savings intermediaries under prescribed scheme.
A deduction is allowed to an individual or Hindu undivided family for aggregate sums paid to, or deposited in, accounts with a permitted savings intermediary, within the statutory ceiling; this includes sums paid for or on behalf of the assessee but excludes rollovers between accounts. Payments must comply with a scheme prescribed by the Central Government.
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