Interest Deduction of Rs 10,000 for Individuals & HUF Only !

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Budget 2012-13 has brought back the old and deleted deduction section Section 80L of the Income Tax Act which used to lower the total income as far as interest income was concerned ,  in form of Section 80TTA  which allows Individuals and HUF a maximum deduction of Rs 10,000 from interest earned on savings account….

About Prashant Thakur
The author has spent twenty years with Income Tax department and desire to service common citizen of India which include professionals like tax practioners ,CA,ICMA, CS and tax lawyers by advising them on the direct tax matters for a very affordable fee.

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