Friday, July 5, 2024

BANKING

The government is examining a proposal to increase the tax-deductible amount on savings account interest to Rs 25,000. Current limits are Rs 10,000 (Section 80TTA), Rs 50,000 for seniors (Section 80TTB), under the old tax regime. Banks have been advocating for incentives on deposits due to rising concerns over the increasing credit-deposit ratio.

from Banking/Finance-Industry-Economic Times https://ift.tt/WPFM0VU
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