ITR Filing 2024: As per the income tax rules, taxpayers are allowed to seek deduction from the interest income earned from the deposits available in a savings bank account, however, this should not be in a time deposit. This income tax deduction is offered under Section 80TTA and Section 80TTB.
Himanshi Singh is a sub-editor with a focus on national news in India. Her work has been featured in Times Network and Analytics Vidhya. She covers a wide range of topics including finance, stocks, taxation, and corporate news.