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CA Dipika Pathak

Partner at D P S A &...ย โ€ขย 10m

AVOID this mistake WHILE taking deduction of interest (saving +fixed deposit)in your ITR๐Ÿ”ด๐Ÿ”ด๐Ÿ”ด๐Ÿ”ด๐Ÿ”ด Since ITR Season is around, highlighting common confusion โžก๏ธFor Individual & HUF - We can take a max deduction of 10,000 on interest from a savings account, Coop Bank, and Post Office. Please note this deduction is not applicable on interest from fixed deposits. โžก๏ธOnly for Resident Senior Citizen (above 60 yrs) can claim deduction of Rs 50,000 from the interest income earned from any bank deposits, including fixed deposits

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