80tta: Maximum amount of deduction available

Maximum amount of deduction available under section 80TTA – The maximum amount of deduction available under section 80TTA is lower of the following – The whole of the interest income; or INR 10,000. In simple terms, if the eligible interest income is less than INR 10,000, then, the entire interest income would be allowed as deduction. However, in case the interest income is more than INR 10,000, then, only INR 10,000 would be allowed as a deduction under section 80TTA . Frequently Asked ... Learn how to claim deduction under Section 80TTA for interest income from savings accounts up to Rs 10,000 per annum. Find out the exceptions, eligibility, and tax implications of this section for FY 2025 - 26 & AY 2026 - 27. Know the differences between Sections 80TTA and 80TTB of the Income-tax Act. Learn eligibility, deduction limits of Rs.10,000 and Rs.50,000, applicable income sources, and rules under the new tax regime Section 115BAC. Learn how to claim a deduction of up to ₹10,000 on interest from savings accounts under Section 80TTA of the Income Tax Act. Find out the eligibility, types of interest income, documentation, and FAQs for this tax benefit.