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How to read section numbers: s.80C→s.123 means Section 80C of the Income-tax Act, 1961 is now Section 123 of the Income-tax Act, 2025 (in force from 1 April 2026). Returns for FY 2025-26 still use the old numbers; Tax Year 2026-27 onwards uses the new ones. Section Finder
80TTA vs 80TTB
| 80TTA | 80TTB | |
|---|---|---|
| Who | Individuals (non-senior) and HUFs | Resident senior citizens |
| Interest covered | Savings accounts only | Savings, fixed & recurring deposits, post office |
| Limit | ₹10,000 | ₹50,000 |
TDS on interest
Banks deduct TDS on interest above the threshold (₹50,000 a year for non-seniors; ₹1,00,000 for senior citizens from 1 April 2025). Seniors with no tax liability can submit Form 15H (new Form 121) to avoid TDS.
Worked example
Example
Example: Mr. Sharma (67) earns ₹38,000 FD interest and ₹6,000 savings interest. He deducts the full ₹44,000 under 80TTB.
Common mistakes
- Seniors claiming 80TTA instead of 80TTB
- Claiming FD interest under 80TTA
- Not reporting interest at all because TDS was not deducted
Frequently asked questions
No. 80TTA and 80TTB are old-regime only.
Last reviewed on 11 November 2026 by Vinay Jaglan, VJ & Associates. Law and portal screens change — verify before acting, or ask the office.
