Interest Exemption
Section 80TTA & 80TTB Calculator
Compute your eligible tax-free interest income earned from savings accounts under Section 80TTA (up to ₹10,000 for non-seniors) or all bank deposits under Section 80TTB (up to ₹50,000 for senior citizens).
Interest Parameters Section 80TTA/B
Interest earned from commercial banks, co-operative banks, and post office savings accounts.
*Non-seniors cannot claim 80TTA deductions on fixed deposit interest.
Exemption Summary
Eligible Tax Deduction
₹ 10,000
Governing Statutory Section:
Section 80TTA
Maximum Statutory Ceiling:
₹ 10,000 (Non-Senior) / ₹ 50,000 (Senior)
Key Differences: Section 80TTA vs Section 80TTB
| Feature | Section 80TTA | Section 80TTB |
|---|---|---|
| Eligibility | Individuals and HUFs below 60 years of age | Resident Senior Citizens aged 60 years or more |
| Eligible Interest | Savings bank accounts only | Savings accounts, Fixed Deposits (FDs), and Recurring Deposits (RDs) |
| Maximum Deduction | Up to ₹10,000 per financial year | Up to ₹50,000 per financial year |