https://www.taxtmi.com/acts?id=51684 Section 153 allows a deduction for interest on deposits received by individuals and Hindu undivided families from banks, cooperative banking societies, and Post Offices. Non-senior individuals and HUFs may deduct interest up to Rs. 10,000 on savings account deposits (excluding time deposits); senior citizens may deduct interest up to Rs. 50,000 on deposits in any account, including time deposits. Interest on deposits held by firms, associations, or bodies of individuals is excluded from deduction for partners, members or constituent individuals. en-us Thu, 14 Aug 2025 11:08:34 +0530 Sat, 31 Jan 2026 12:13:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=51684 Section 153 allows a deduction for interest on deposits received by individuals and Hindu undivided families from banks, cooperative banking societies, and Post Offices. Non-senior individuals and HUFs may deduct interest up to Rs. 10,000 on savings account deposits (excluding time deposits); senior citizens may deduct interest up to Rs. 50,000 on deposits in any account, including time deposits. Interest on deposits held by firms, associations, or bodies of individuals is excluded from deduction for partners, members or constituent individuals. Act-Rules Income Tax Thu, 14 Aug 2025 11:08:34 +0530 https://www.taxtmi.com/acts?id=51684