MAARG & ASSOCIATES

MAARG & ASSOCIATES

Chartered Accountants

Telephone

0755-4902128

Mobile

+91 9406541241

Email

contact@maargassociates.com

MAARG & ASSOCIATES

Chartered Accountants

MAARG & ASSOCIATES

Chartered Accountants

Comparison of Deduction u/s 80TTA & 80TTB

Home »  Resources »  Utilities » Comparison of Deduction u/s 80TTA & 80TTB

Paticulars80TTA80TTBRemarks
Applicable wefAY 2013-14AY 2019-20Till AY 2018-19 80TTA available to senior citizens also.
Deductor to whom applicableBanks, Cooperative banks, Post offices etc.Banks, Cooperative banks, Post offices etc.Not applicable to other deductors like Companies who may have taken deposits.
Deductee to whom applicableIndividuals (other than Senior citizens) & HUFSenior CitizensEither 80TTA or 80TTB can be claimed.
Residential status of deducteeResidents & Non-residentsResidents only 
Type of payment on which applicableInterest on Savings accountInterest on Savings account & Fixed DepositsNo benefit to persons other than senior citizens for interest on FD.
Maximum deduction1000050000Deductor to give remarks “R” for 80TTB till amount reaches 50,000
Where to claimITR (as TDS not applicable on interest on savings account)TDS & ITR.

Disclaimer

This website has been prepared by the firm to provide general information to our clients and the wider business community. As it is a general guide, we recommend you seek professional advice before taking action.

MAARG & ASSOCIATES make no guarantees, warranties, undertakings or representations, about nor do MAARG & ASSOCIATES accept any liability in respect of any costs, losses, damages or expenses suffered or incurred (howsoever) in connection with:

Any part of the content of this website (including, without prejudice to the foregoing generality, any guarantees, warranties, undertakings or representations, regarding the quality, correctness, completeness, or fitness for any reason of such content).

OR

Any part of the content of any website referred to or accessible by hypertext link through this website, (“a third party site”).
MAARG & ASSOCIATES does not endorse or approve the content of any third party site (including, without prejudice to the foregoing generality the content of and/or any products or services offered by any organization which may be referred to in this website or which may be accessed from this website by hypertext link or otherwise).