scorecardresearchIncome Tax: Section 80TTB deductions and eligibility for senior citizens

Income Tax: Section 80TTB deductions and eligibility for senior citizens

Updated: 25 Jan 2023, 05:01 PM IST
TL;DR.

Section 80TTB of the Income Tax Act provides tax deductions to senior citizens on income earned from interest on deposits held with banks, post offices and cooperative societies. It allows a deduction of up to 50,000 from the total income of such individuals.

growth-g4f2c2fdbd_1920_1653895394672

growth-g4f2c2fdbd_1920_1653895394672

First Published: 25 Jan 2023, 02:19 PM IST