https://www.taxtmi.com/article/detailed?id=13179 Section 80TTA allows deduction for interest on savings bank deposits for individuals and HUFs (excluding senior citizens) from specified banking and post office deposits subject to a statutory ceiling, excluding time deposits and accounts held by firms or associations; tribunals require documentary proof (bank statements/passbooks) and remit matters to assessing officers for verification when eligibility or quantum is not established. Section 80TTB provides a higher deduction for senior citizens from similar deposit sources, subject to the same exclusions and the requirement that claimants substantiate interest income for deduction within statutory limits. en-us Thu, 05 Dec 2024 10:41:09 +0530 Thu, 05 Dec 2024 10:41:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=13179 Section 80TTA allows deduction for interest on savings bank deposits for individuals and HUFs (excluding senior citizens) from specified banking and post office deposits subject to a statutory ceiling, excluding time deposits and accounts held by firms or associations; tribunals require documentary proof (bank statements/passbooks) and remit matters to assessing officers for verification when eligibility or quantum is not established. Section 80TTB provides a higher deduction for senior citizens from similar deposit sources, subject to the same exclusions and the requirement that claimants substantiate interest income for deduction within statutory limits. Articles Income Tax Thu, 05 Dec 2024 10:41:09 +0530 https://www.taxtmi.com/article/detailed?id=13179