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Jitendra B

80TTA - Income from interest on saving banks Accounts...
I have received notice u/s 143(1) with a demand raised because the CPC denied the Sec 80TTA deduction. A demand was raised under menu eFile. I had entered exact 10000 in Sec 80TTA in AY 17-18.

1) I have Disagreed with the demand with suitable explanation of missing 80TTA deduction
2) Under Rectifica...
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Amlan Dutta
Yes, you are correct in disagreeing with the demand but you should have also mentioned that the 80 TTA was on account of savings interest and if there was scope of attachments , then you could have attached the savings statement from the bank ....rectification is correct under reprocess the case but...
  • September 4, 2018
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Jitendra B
Thanks Amlan for the guidance.
  • September 5, 2018
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JK Jain

80TTA - Income from interest on saving banks Accounts...
Dear Amlan, I have earned saving bank Account interest Rs45636 in 2017-18. Should I show exact amount of this Rs45636 in 80TTA column in ITR out which System will automatically allow maximum Rs 10000 exemption or I show only Rs 10000 as maximum allowable limit. What is correct / mandatory.
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Amlan Dutta
You can do either ...both is acceptable ...most put whole amount i.e 45636 ..Like you have already understood, system will automatically calculate eligible amount i.e lesser of 10,000 rs or savings interest i.e 10,000 rs ( check attached picture ) .......

Also, next time, please be careful to selec...
You can do either ...both is acceptable ...most  put  whole amount i.e 45636 ..Like you have already understood, system will automatically calculate eligible amount i.e lesser of 10,000 rs or savings interest i.e 10,000 rs ( check attached picture ) .......<br /><br />Also, next time, please be careful to select question category properly to avoid your entry getting deleted from my website <br />I will also not be answering any further  questions which are without proper category selections
  • July 8, 2018
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