WebOct 3, 2024 · Section 80TTA for NRI. Making it clear once again, this deduction of Rs.10,000 under section 80TTA is only applicable to the interest earned on the NRO Savings Account for an NRI. For example, if you have 2 to 3 lakhs in your NRO saving account which resulted in an interest of around Rs.12,000 to Rs.15,000 on a 4% annual rate, then up to Rs ... WebDeduction under section 80TTA is applicable for individuals whose total income is above the taxable slab. For example, if your income is ₹ 2,00,000 and specific earning from …
Section 80TTA of Income Tax Act – All about Claiming
Web20% of total income over and above ₹5 Lakh + ₹12,500) Above ₹10 Lakh. 30% of the total income over and above ₹10 Lakh + ₹1,12,500) An additional health and education cess at 4% of the total tax payable is levied. A surcharge of 10% of the total income also has to be paid by people earning higher than ₹50 Lakh annually. WebIt is available under both old and new income tax regimes. The aggregate income tax deduction limit under sections 80C, 80CCC and 80CCD (1) is Rs.1.50 Lakh and an additional deduction of Rs.50,000 is available under section 80CCD (1B). Read our detailed articles on-. iron and silk movie
New Scheme Of Taxation U/S 115BAC - taxsmooth.com
WebSep 21, 2024 · For example, you earn ₹8 lakhs annually and do not get HRA, but pay a rent of ₹16,000 per month, i.e. ₹1.92 lakhs in a year. As per the first condition, you can avail of a tax exemption of ₹60,000. According to the second condition, the permissible deduction would be ‐ ₹1,92,000 ‐ ₹80,000 (10% of income) ‐ ₹1,12,000. WebTo claim the tax rebate u/s 87A, the following eligibility criteria should be met –. You should be a resident Indian taxpayer. Your age should not exceed 80 years. Your net taxable … WebSection 80TTA deduction of the Income Tax Act allows the deduction of up to Rs 10,000 per year on savings account interest. Except for senior citizens, it applies to all individuals and … iron and sinemet interaction