Getting a joint bank account is common financial planning among us.
In this type of bank account, the account holders are named as:
Primary account holder, and
Secondary account holder
While opening the bank account, the account holders can choose any of the prescribed modes of operation...
Introduction
80TTA is an income tax deductions provided to Individuals and HUF for interest on savings account up to Rs.10,000/- only. Non Residents are also eligible for this deduction. [Available in FY 2019-20]
Saving accounts held in following institutes are covered for the deduction:
Bank
...
In budget 2018, the government has provided a big relief to our senior citizens (60 years or more) in form of a deduction of their interest income up to Rs.50,000/-.
In this article, we will understand all aspects of this deduction as provided under section 80TTB.
Effective date
Section 80TTB...