Section 80 TTA has been removed from Webpay because of the following reason.
The employer is not liable to tax on interest income of the employee. If you adopt this option of 80TTA, you will give deduction out of the salary income, and this is not acceptable as per tax laws. The only exception to this is interest on borrowed capital for house property (Rs 150000/Rs 30000), which is specifically provided for in the law.
Blog by BBSPL
The employer is not liable to tax on interest income of the employee. If you adopt this option of 80TTA, you will give deduction out of the salary income, and this is not acceptable as per tax laws. The only exception to this is interest on borrowed capital for house property (Rs 150000/Rs 30000), which is specifically provided for in the law.
Blog by BBSPL
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