Deduction u/s 80 P of Income Tax Act does not apply to Interest earned on FDRs from Bank of Baroda: ITAT [Read Order]

Deduction under Section 80 P of the Income Tax Act, 1961, does not apply to interest earned on Fixed Deposit Receipts (FDRs) from Bank of Baroda, rules, ITAT
ITAT - Income Tax - ITAT Ahmedabad - Deduction - Bank of Baroda - Fixed Deposit Receipts - TAXSCAN

The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) observed that deduction under Section 80 P of the Income Tax Act, 1961 does not apply to interest earned on Fixed Deposit Receipts ( FDRs ) from Bank of Baroda The Assessment Year 2017-18, the assessee  filed a return of income declaring total…

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