ITR Filing 2024: What Deductions Does Section 80TTB Provide For Senior Citizens?
Section 80TTB was introduced in the Income Tax Act to provide tax relief to senior citizens.
Section 80TTB was introduced in the Income Tax Act to provide tax relief to senior citizens.
The income tax rules provide additional tax benefits to senior citizens aged 60 and above on the total income in a financial year.
Section 80TTB benefit can be availed of only if the senior citizen chooses the old tax regime and meets the eligibility criteria, such as age and residency status.
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