|
Parameters |
Section 80TTA |
Section 80TTB |
|
Applicability |
Applicable to the Individuals and Hindu Undivided Family (HUF) except senior citizens |
Applicable
to senior citizens. |
|
Deduction |
Interest on the saving bank account only |
Interest on Saving Account or any Deposits with Bank, Co-operative Bank, Post offices |
|
Residential status of deductee |
Residents & Non-residents |
Residents only |
|
Maximum of deduction |
Deduction Restricted to Rs. 10,000 from their gross total
income. |
Deduction Restricted to Rs 50,000 from their gross total
income. |
For the purposes of this section, “senior citizen” means an individual resident
in India who is of the age of sixty years or more at any time during the relevant previous year.
