Calculate 80TTA Deduction
Total Interest Earned:
₹0
Applicable Section:
-
Maximum Deduction Limit:
₹0
Your Deduction:
₹0
Tax Saved (30% slab):
₹0
About Section 80TTA & 80TTB
Section 80TTA and 80TTB provide deduction on interest earned from savings accounts and deposits.
Section 80TTA (Below 60 years):
- Deduction up to ₹10,000 on savings account interest
- Applicable to individuals and HUFs
- Covers savings accounts with banks, post office, co-operative banks
Section 80TTB (Senior Citizens - 60+ years):
- Deduction up to ₹50,000 on interest income
- Covers savings account, fixed deposits, recurring deposits
- Only for senior citizens (60 years or above)
- Cannot claim both 80TTA and 80TTB
Key Points:
- Interest from fixed deposits not covered under 80TTA
- Senior citizens should use Section 80TTB instead
- Deduction is on interest earned, not principal amount