The following is not allowed as deduction u/s 80TTA —

CS Executive · Tax Laws and Practice · PYQS · December 2014
The following is not allowed as deduction u/s 80TTA —
(A) Interest on deposits in a savings account with bank upto ₹10,000
(B) Interest on time deposits with bank upto ₹10,000
(C) Interest on deposits in a savings account with post office upto ₹10,000
(D) Interest on deposits with co-operative society engaged in carrying on the business of banking upto ₹10,000.

Answer & Explanation:

Correct Answer: Option (B)

Correct answer: (B) Interest on time deposits with bank upto ₹10,000. This answer applies to the historical law and assessment-year context of this December 2014 paper; later amendments may differ.

Topics: Income Tax Act, 1961

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