Is Section 80TTA of Income Tax Act, 1961, applicable for assessment year 2014-15? Specifically, I want to know whether the Rs 10,000 rebate for interest on savings bank account under Chapter VIA is applicable for assessment year 2014-15?

D. C. Debnath, Calcutta

The deduction of Rs 10,000 on savings interest under Section 80TTA is effective from April 1, 2013, and will apply for assessment year 2014-15.

Change in PAN address

My PAN was issued from my old address and as such Form 16A issued from the bank reflects the old address of the PAN. How can my PAN address be changed?

B. K. Das, via email

You can change the address related to you PAN account both online and offline. To change PAN details online, you can go to the following website https://tin.tin.nsdl-.com/pan/correction.html. The detailed instruction along with the payment is mentioned there. The fee for processing PAN application is Rs 105, including service tax for communication address within India, while Rs 971 for addresses outside the country. For offline change, you can download a PAN correction form from https://www.tin-nsdl.com/download/pan/PAN-CR-FORM.pdf and fill it after taking a print out. Submit the form along with the ID and address proof to your nearest NSDL TIN centre. To locate your nearest centre, you can visit https://www.tin-nsdl.com/tin-facilities.php.

Scheme clarity

Will exemption of tax continue for three years consecutively if anybody invests money in the Rajiv Gandhi Equity Savings Scheme (RGESS)?

D. Ghosh, North 24 Parganas

According to the provisions of Section 80CCG of the income tax act, a new retail investor shall be eligible for tax benefit under RGESS only for three consecutive financial years, beginning from the initial year. The amount of deduction will be 50 per cent of the total investment, subject to a ceiling of Rs 25,000.

If you have any queries about investing or taxes or a high-cost purchase you are planning, mail to: btgraph@abp.in, or write to: Business Telegraph, 6 Prafulla Sarkar Street, Calcutta 700 001.