Can interest on Senior Citizen Saving Scheme be included for claiming deduction u/s 80TTB for the FY 2018-19?
1 Answers
Hi,
Officially, there is no notification on this. But, I believe that Section 80ttb provides for exemption of interest received on deposits in banks, cooperative societies engaged in banking business or a post office. Investment in Senior Citizens’ Savings Scheme qualifies as a ‘deposit’ in a post office.
Related articles :
- FY 2018-19 Section 80TTB | Tax Exemption of Rs 50,000 on Interest Income to Senior Citizens
- Income Tax Deductions List FY 2019-20 | List of important Income Tax Exemptions for AY 2020-21
- Lump sum Investment options for Retirees/Senior Citizens | Where to invest my Retiral benefits to get Regular Income?
Can NRI/OCI senior citizen claim 80TTB for the ICIC and Axis Bank FD in India ?
Please login or Register to submit your answer
