Deduction against Interest Income
Section 80TTA allows you to claim a deduction on the interest earned from savings accounts held with banks, post offices, or cooperative societies.
Note: This deduction does not apply to interest from fixed deposits (FDs) or recurring deposits (RDs).
Common Questions
Why is my deduction amount showing as zero?
If your interest income was adjusted against other heads of income or losses during the year, the deduction may appear as zero.
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Does this include interest from Fixed Deposits (FDs)?
No. Section 80TTA applies only to savings account interest. However, senior citizens can claim a higher deduction of ₹50,000 under Section 80TTB, which includes interest from FDs as well.
Steps to Review Deduction under 80TTA
Navigate to File > Deductions
- Select Section 80TTA/ TTB card

- Review the deduction for interest earned during the year
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