Under section 153 of the Income-tax Act, 2025, for an individual who is not a senior citizen and is…
The maximum deduction is Rs. 10,000 for eligible savings-account interest of an individual who is not a senior citizen. Section 153 of the Income-tax Act, 2025 distinguishes…
Choose your answer
Under section 153 of the Income-tax Act, 2025, for an individual who is not a senior citizen and is eligible to claim the deduction under the old tax regime, the maximum deduction for interest on savings accounts held with banks or post offices is:
Answer and explanation
Correct answer A
The maximum deduction is Rs. 10,000 for eligible savings-account interest of an individual who is not a senior citizen. Section 153 of the Income-tax Act, 2025 distinguishes this deduction from the separate deduction available to senior citizens.
Practice for these exams
-
Telangana SET (TG SET)