Section 80TTA
Definition
Deduction up to ₹10,000 for interest earned on savings bank accounts (not FD or RD interest). Available only under the Old Tax Regime.
In Context
Available to individuals under 60 years. No income ceiling for eligibility. Senior citizens (60+) should claim under Section 80TTB instead, which has a higher ₹50,000 limit covering savings + FD + RD interest.
Related Terms
Want personalized financial guidance?
Use Kuber.AI to understand how Section 80TTA applies to your financial plan.
Download Kuber.AI
⚠️ Disclaimer: This glossary is for educational purposes. Simplify Money provides analytical insights and guidance. We have applied for SEBI RIA registration.