For the Financial Year (F.Y.) 2025-26, Section 80TTA of the Income Tax Act provides a deduction of up to ₹10,000 on the interest income earned from savings accounts. This deduction is available to individuals and Hindu Undivided Families (HUFs) who choose the old tax regime. Key provisions under Section 80TTA for F.Y. 2025-26 Eligibility The deduction can be claimed by the following taxpayers: Individuals: This applies to residents and non-residents, as long as they are not senior citizens (60 years or older). Senior citizens have a separate provision, Section 80TTB, with…
Section 80TTA of the Income Tax Act: Eligibility, Limit, and Complete Benefits Explained
