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....Deduction in respect of interest on deposits in savings account.-(1) Where the gross total income of an assessee, being an individual or a Hindu undivided family, includes any income by way of interest on deposits (not being time deposits) in a savings account with-            (a) a banking company to which the Banking Regulation Act, 1949 (10 o....

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.... a case where the amount of such income does not exceed in the aggregate ten thousand rupees, the whole of such amount; and                 (ii)  in any other case, ten thousand rupees.       (2) Where the income referred to in this section is derived from any deposit in a savings account....