Post Office Savings Accounts (POSA) have emerged as a favourable option for individuals opting for the new tax regime, offering specific tax benefits not available with regular bank savings accounts.

Yes, the interest on your savings bank account is taxable under the head income from other sources at the slab rate applicable to you. Generally, there is no exemption for interest on a savings bank ...

Section 80TTB limit should be increased, says SBI Research. Representational image Section 80TTB Income Tax exemption limit for senior citizens: Interest income of up to Rs 50,000 from savings ...

Under Section 80TTB of the income tax act, interest income earned from deposits qualifies for a deduction from one’s gross total income. Senior citizens have a lot of hope from the budget ...

Income Tax Deduction: For people above 60, there are various sections available in the Income Tax Act, 1961 to help then save money. Income Tax Deduction: Senior citizens can claim deductions under ...

Section 80TTB of the Income Tax Act outlines the tax benefits that senior citizens can avail of regarding the interest income they receive from deposits. The Finance Budget 2018 introduced several ...

Tax deduction under Sections 80TTA and 80TTB remains unchanged. Individuals, Hindu Undivided Family (HUF) and pensioners who were expecting a hike in tax deduction under Sections 80TTA and 80TTB had ...

CHENNAI: Finance Ministry’s slew of measures such as increased deductions for interest income, enhanced provision and higher limits for medical insurance premiums and treatments have made the lives of ...

Under section 80TTA, depositors are entitled to a tax deduction of up to Rs 10,000 on interest earned on bank and post office savings deposits. If you are senior citizen (over 60), you can avail of a ...