Section 80TTA/80TTB Savings Interest Calculator India — FY 2025-26
Calculate tax saved on savings account interest under Section 80TTA (up to ₹10,000 for individuals below 60) and Section 80TTB (up to ₹50,000 for senior citizens on all interest income). Available under old tax regime only. Optimize interest across family members.
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How to Use This Calculator
80TTA Deduction tab
Enter your total savings account interest earned across all banks and post offices (e.g. ₹15,000), select your age category (below 60 or 60+), tax regime (old or new), and your tax slab rate. The calculator shows your eligible deduction under Section 80TTA (₹10,000 limit) or 80TTB (₹50,000 for seniors), taxable interest remaining, and exact tax saved including 4% cess. If you select the new regime, you will see a warning that 80TTA/80TTB is not available.
Senior Citizen 80TTB tab
Enter your savings account interest, FD interest, RD interest, and optionally other deposit interest. The calculator aggregates all interest income and applies the ₹50,000 80TTB deduction. It also checks TDS applicability on FD interest and shows the net tax payable on excess interest.
Optimize Interest Income tab
Enter savings interest for you, your spouse, and a senior parent. The calculator shows how each family member's 80TTA/80TTB deduction works independently and recommends optimization strategies — like moving FDs to a senior parent's name to maximize the family's total deduction from ₹10,000 to ₹50,000.
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The Formula
Section 80TTA and 80TTB provide deductions on interest income, reducing your taxable income under the old regime:
Eligible Interest = Savings account interest from banks + post offices + co-operative societies
Deduction = Minimum of (Eligible Interest, ₹10,000)
Note: Does NOT cover FD, RD, corporate deposits, or bond interest
Section 80TTB (senior citizens 60+):
Eligible Interest = ALL interest income — savings + FD + RD + post office deposits
Deduction = Minimum of (Eligible Interest, ₹50,000)
Note: 80TTB replaces 80TTA for seniors — cannot claim both
Tax Saved:
Taxable Interest Remaining = Total Interest − Deduction
Tax Saved = Deduction × Marginal Slab Rate
Cess Saved = Tax Saved × 4%
Total Tax Saved = Tax Saved + Cess Saved
Tax Regime:
Section 80TTA/80TTB is available ONLY under the old tax regime.
NOT available under the new tax regime (Section 115BAC), which is the default from FY 2023-24.
TDS on Interest (Section 194A):
Banks deduct TDS on FD interest > ₹40,000 (₹50,000 for seniors)
No TDS on savings account interest
TDS is advance tax — actual liability depends on slab rate
The key takeaway: if you are under 60, the first ₹10,000 of your savings account interest is tax-free under 80TTA. If you are 60+, the first ₹50,000 of ALL interest income is tax-free under 80TTB. At a 30% slab, this saves you ₹3,120 or ₹15,600 respectively (including cess).
Example
Rahul — IT professional in Bangalore, earns ₹15,000 savings interest
Rahul (35) has savings accounts at SBI and HDFC Bank. His combined savings interest for FY 2025-26 is ₹15,000. He files under the old tax regime at the 30% slab. He wants to know how much tax he saves under Section 80TTA.
Step 1: Determine deduction
Step 2: Calculate tax saved
Rahul saves ₹3,120 in tax on his savings interest. The remaining ₹5,000 above the ₹10,000 limit is taxable at his 30% slab, costing him ₹1,560 in tax (including cess). If Rahul's mother (age 62) had earned the same ₹15,000, she would pay zero tax on it — the entire amount falls within her ₹50,000 80TTB limit.
Kamala — retired senior citizen, total interest ₹63,000
Kamala (65) is a retired teacher. She earns ₹15,000 savings interest, ₹40,000 FD interest, and ₹8,000 RD interest — totalling ₹63,000 in interest income. She files under the old regime at 20% slab.
80TTB calculation
Kamala saves ₹10,400 in tax under Section 80TTB. Only ₹13,000 of her ₹63,000 interest income is taxable. Without 80TTB, she would have paid ₹13,104 in tax on the full ₹63,000.