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Section 80TTB - Deduction in respect of interest on deposits in case of senior citizens

tion 80TTA to an assessee in respect of interest income from savings account. Now a new section 80TTB is inserted so as to allow a deduction upto ₹ 50,000/- in respect of interest income from deposits held by senior citizens. This amendment is effective from 1st April, 2019. However, no deduction under section 80TTA shall be allowed in these cases. Quantum of deduction A deduction of lower t .....

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