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

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..... enior 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 than ₹ 50,000 or an amount from a specified income is allowed from the gross total income. Specified income includes: Interest on bank deposits (savings or fixed) Interest on depo .....

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