Section 80TTB prescribes the benefits provided to the senior citizen for the interest on his deposit.
As per this section, interest income from deposits with banks or post office or co-operative banks of an amount upto Rs. 50,000 is eligible for the deduction.
So you can avail the deduction up to Rs. 50000 under section 80TTB. Further, no tds shall be deducted on the interest up to the limit of 50000.
Please mark your satisfactory level...
My Dear ,
I thank you for marking the answer as satisfactory.
I have noted.
It will be very nice and helpful to our other members (and the answerer too) if you mark your satisfaction level on the grade scale below.
Please feel free to mark any point. I don't share it with anyone. I use it for doing my internal calculations only. I use these calculations to evaluate the service performance of the relevant virtuoso.
Here is the grade scale:
Thank you,
Yours sincerely,
Anu, Thakurani's bestie