Home > Income Tax Act 2025 > Section-153Last Updated: Feb 21st 2025
Section-153 provides for certain deduction for interest on savings account deposits (excluding time deposits) for individuals and Hindu undivided families. Learn to understand the section-153 as it is, it's help and useful links to follow.
Here onwards, "Act" refers to "Income Tax Act 2025"
shall be allowed a deduction from the gross total income, subject to conditions specified in sub-section (2), where it includes income by way of interest on deposits with––
Disclaimer: This article provides an overview and general guidance, not exhaustive for brevity. Please refer Income Tax Act, GST Act, Companies Act and other tax compliance acts, Rules, and Notifications for details.