From the current Financial Year i.e. 2012-13 & Assessment Year 2013-14 some extra income tax sections has been added as per the New Central Finance Budget 2012, like as U/s 80CCG & U/s 80TTA.

Section 80CCG is for Rajiv Gandhi Equity Savings Scheme (RGESS), which benefits can get who’s Taxable Income less than 10 Lakes and this benefits will be as 50% of Total Value ( Max Rs. 50,000/-).

Read the article on What you should know about Rajiv Gandhi Equity Savings Scheme (RGESS)

U/s 80TTA is a Bank Savings Interest :- which can get the benefits to the Tax Payees by this new section Max Rs. 10,000/-.

Here deduction from gross total income of an individual or HUF, upto a maximum of Rs. 10,000/-, in respect of interest on deposits in savings account ( not time deposits ) with a bank, co-operative society or post office, is allowable w.e.f. 01.04.2012 (Assessment Year 2013-14).

Additional Income Tax Sections U/s 80CCG & U/s 80TTA from AY 2013-14 onwards

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