Deduction for interest income under 80TTA/80TTB barred when assessee opts for the alternative tax regime under 115BAC. Deduction for interest income under section 80TTA and section 80TTB is not available to an assessee who has opted for the default alternative tax regime ... Summary
Deduction for interest income under 80TTA/80TTB barred when assessee opts for the alternative tax regime under 115BAC.
Deduction for interest income under section 80TTA and section 80TTB is not available to an assessee who has opted for the default alternative tax regime under section 115BAC, so taxpayers should account for the foregone interest-related deductions when electing that regime.
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