Claiming deduction on interest under Income from other sources

In ITR prefilled form, under Income from other sources, its shown chargeable Interest from savings account to be 25K.

Is there any way to claim deduction on the Income from other sources as returns?

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Section 80TTA provides a deduction of Rs 10,000 on interest income. This deduction is available to an Individual and HUF. Interest Income are Allowed as Deduction Under Section 80TTA for

  • From a savings account with a bank
  • From a savings account with a co-operative society carrying on the business of banking
  • From a savings account with a post office

The maximum deduction is limited to Rs 10,000. If your interest income is less than Rs 10,000, the entire interest income will be your deduction. If your interest income is more than Rs 10,000, your deduction shall be limited to Rs 10,000. (You have to consider your total interest income from all banks where you have accounts).

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