Eligibility under section 80TTA

whether Non Resident senior citizen is eligible for deduction under section 80TTA ? Because NR senior citizen is not eligible for deduction under section 80TTB as it is not covered under definition of senior citizen under section 80TTB
Replies (4)

Yes, sec. 80TTA deduction can be claimed,,,

A non-resident senior citizen is eligible for Deduction under TTA to the extent of Rs 10000/-.
Section 80TTA provides a deduction of Rs 10,000 on interest income. This deduction is available to an Individual and HUF.

This deduction is allowed on interest earned –

From a savings account with a bank

From a savings account with a co-operative society carrying on the business of banking

From a savings account with a post office

This deduction is NOT allowed on interest earned on these deposits.

Interest from fixed deposits

Interest from recurring deposits

Any other time deposits

Section 80TTB (Only for senior citizen) provides a deduction of Rs 50,000 on interest of all kind of deposits.
Yes DEDUCTION under Section 80TTB can be claimed by SENIOR CITIZEN even if he is a NRI.

Note : 80TTA is for Individual or HUF ( other than Senior Citizen ). Whereas 80TTB is for Individual or HUF ( being a SENIOR CITIZEN ).

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