80ttb: Deduction allowed u/s 80TTB with a limit

deduction allowed u/s 80TTB with a limit of Rs. 50,000/- only for old regime for new regime – if his income is below the basic exemption limit, or qualifies for Section 87A relief, tax impact can be reduced Key takeaways Under the old regime, senior citizens enjoy better tax benefits on FD interest due to Section 80TTB Income Tax for Senior Citizens provides a complete overview of tax slabs applicable to senior citizens and super senior citizens in India. Instead, they can avail a higher tax benefit under Section 80TTB for interest income from deposits. This clarifies that while general taxpayers and HUFs can use 80TTA for savings account interest (up to ₹10,000), senior citizens must use 80TTB (which offers a ₹50,000 deduction on interest from all types of deposits). Despite selecting applicable Schedule (VI-A) in the first page of recently released ITR 2, I am not able to eclaim Deductions under VI-A ( 80TTB , 80 D), as the "Edit" button is disabled.