💰 Section 80TTA Calculator

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