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Articles related to focusing on healthy aging, prevention, mobility, cognition, nutrition, independence, and caregiving support.

3 min

Who is not eligible for 80TTB? Understanding Section 80TTB Exclusions

Over 96% of eligible senior citizens depend on interest income for retirement expenses. Section 80TTB of the Income Tax Act, which provides a deduction of up to ₹50,000 on interest income for senior citizens, is a valuable relief measure. However, not everyone can claim this benefit, and understanding who is not eligible for 80TTB is crucial to proper tax planning. This includes non-senior individuals, non-resident Indians, and specific non-individual entities.

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4 min

Can a senior citizen claim both standard deduction and 80TTB?

For senior citizens, managing tax obligations can be complex. In fact, many rely heavily on interest income for retirement, making tax deductions crucial for financial stability. This guide explains the rules surrounding the question: can a senior citizen claim both standard deduction and 80TTB?

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