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of <h1>Section 80TTA: Deduction up to Rs.10,000 for Interest on Non-Time Savings Bank or Post Office Accounts for Individuals and HUFs</h1> Individuals and Hindu undivided families (excluding those covered by the specified alternate provision) may deduct interest earned on non-time deposit savings accounts held with scheduled banks, cooperative banks engaged in banking, or Post Offices, up to Rs.10,000 (or the whole amount if aggregate interest does not exceed Rs.10,000) when computing total income. Interest on time deposits is excluded. No deduction is available to a partner, member or individual in respect of interest where the savings account is held by or on behalf of a firm, association of persons or body of individuals.
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