Is Interest on Fixed Deposit covered u/s 80TTA

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  1. Dinesh Kumar

    Dinesh Kumar Member

    AS PER UNDER SECTION 80TTA RS 10000 IS EXEMPTED ON INTEREST ON SAVING. MY QUESTION IS THAT IS A INTEREST IS EARNED ON FIXED DEPOSIT IS EXEMPTED WITHIN RS 10000 OR NOT.
     
  2. Neha Sharma

    Neha Sharma Active Member

    Dear @Dinesh Kumar

    The Interest earned on Fixed Deposit will not be allowed to be claimed as a deduction as it is specifically mentioned in this section that it this deduction is not available for Interest on Fixed Deposit.
     
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