14 Sep 2025 | 5 Mins Read
Claiming Tax Exemptions on Interest Income Simplified
Flipitmoney
Taxpayers below 60 can claim up to Rs 10,000 on savings bank interest under Section 80TTA, available only in the old tax regime. Senior citizens (60+ years) can claim up to Rs 50,000 on all deposit interest under Section 80TTB, inclusive of savings, fixed, and recurring deposits. Report interest income in "Income from Other Sources" and claim deductions.