Web17 aug. 2024 · #1 Section 80 TTA (Interest Income on Savings Bank Accounts) Interest earned on savings accounts is exempt from income tax to the extent of Rs 10,000 per … WebThe amount eligible for deduction should be equal to ₹ 75,000, in case of dependent person with disability, and ₹ 1,25,000 in case of dependent person with severe disability. (This …
Section 80TTB - Income Tax Deductions for Senior Citizens
Web1 feb. 2024 · Exemptions and Benefits for Senior, Super Senior Citizens for ITR 2024-24 10-04-2024; Interstate Flow of Goods increases to 70% of GDP Post-GST Implementation 08-04-2024; ... Additionally, they are also eligible for a deduction of Rs 50,000 under Section 80TTB for interest income from savings accounts and deposits. WebIt is available under both old and new income tax regimes. The aggregate income tax deduction limit under sections 80C, 80CCC and 80CCD (1) is Rs.1.50 Lakh and an additional deduction of Rs.50,000 is available under section 80CCD (1B). … h2s whmis
Section 80DDB of Income Tax Act: Diseases Covered
WebSection 80 TTB Deduction of the Income Tax Act, 1961 is available only to the senior citizens who are a resident of India. Under the Income Tax Act, senior citizens have been defined as an individual who attains the age of 60 years at any time during the financial year. Web8 apr. 2024 · For senior citizens, the basic exemption limit is Rs 3,00,000. If the income of a senior citizen is Rs 3,00,000, or less, they will not have to pay any income tax. For super senior citizens, the basic exemption limit is Rs 5,00,000. This higher exemption limit is provided to super senior citizens to ensure that they have a higher disposable ... Web15 feb. 2024 · Section 80DDB includes tax deductions for specified diseases for individuals and HUF. Deductions under this chapter cannot be claimed against long term capital gains, short term capital gains covered under section 111A, winnings from horse races or lotteries or such other income covered under section 115BB or income covered under section … h2s while drilling