BooksIQ§80TTA: deduction up to ₹10,000 on SAVINGS-account interest for individuals/HUF (non-senior). §80TTB: for SENIOR CITIZENS, a deduction up to ₹50,000 on interest from savings AND fixed/recurring deposits (in place of 80TTA). OLD regime only.
Key points
- §80TTA allows an individual or HUF (other than a senior citizen) a deduction of up to ₹10,000 on INTEREST FROM SAVINGS ACCOUNTS with a bank, co-operative bank or post office.
- Interest on FIXED / RECURRING / time deposits does NOT qualify under 80TTA.
- §80TTB (from AY 2019-20) gives a RESIDENT SENIOR CITIZEN (60+) a deduction of up to ₹50,000 on interest from BOTH savings accounts AND fixed / recurring deposits;
- a senior citizen claims 80TTB and NOT 80TTA.
- Both deductions are available only under the OLD regime.
Reference: §§80TTA, 80TTB ITA 1961 — under ITA 2025 (FY 26-27 onwards), this is §152
This page is general information for Indian businesses, current as of the
financial year shown above — not legal or tax advice. Tax law changes,
and how a provision applies depends on your specific facts. Confirm the
current position with a qualified professional before you act.
Stop looking up sections. Ask your own books.
BooksIQ answers tax, GST and compliance questions from your actual Tally data — in plain English or Hindi.
See how it works