top of page

Tax Perks: Individuals, HUFs ,Seniors

Writer's picture: Neha SinghNeha Singh

Section 80TTA: Tax Benefits for individuals and HUFs.

Section 80TTA of the Income Tax Act allows individuals and HUFs to claim a deduction on interest income earned from savings accounts, up to Rs. 10,000 per financial year. The savings accounts that are covered under Section 80TTA are Banks, Post office and CO-operative societies. 

The deduction is not available for interest income earned from fixed deposits, recurring deposits, or any other type of deposit.



Section 80TTB: Tax Benefits for Senior Citizens



Section 80TTB is specifically designed for senior citizens, who are aged 60 years or above during the relevant financial year. It allows them to claim a deduction on their interest income up to Rs. 50,000   from all kind of Interest on Deposits.

However, any interest received from other sources, such as interest on bonds and debentures will be ineligible for the deduction under this Section.

37 views0 comments

Recent Posts

See All

Comentários

Avaliado com 0 de 5 estrelas.
Ainda sem avaliações

Adicione uma avaliação

© 2022 by N N DAS & CO.

bottom of page