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80 ttb on treassury deposit interest

manoj xavier and co. (auditor) (2 Points)

22 January 2019

Whether 80TTB Interest deduction is available on Gov.Treasury savings bank interest?

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Madhu Samb (59 Points)
Replied 23 January 2019

Deduction u/s 80TTB is available to Senior citizens for interest on deposits with any banking company, Co-op Society and Post office. Treasury department manages finance and accounts on behalf of the respective State. Hence in my opinion, 80TTB deduction is not available for interest income from Treasury savings account.