80ttb: Income Tax Bill 2025 facts

Income Tax Bill 2025 facts: New draft is coming, quick passage expected with minimal changes for CA or CMA students. Know which pensioners can skip ITR filing or who gets exemption and key tax benefits under Income Tax Act. Rules by age, income type are also explained. Despite selecting applicable Schedule (VI-A) in the first page of recently released ITR 2, I am not able to eclaim Deductions under VI-A ( 80TTB , 80 D), as the "Edit" button is disabled. Instead, they can avail a higher tax benefit under Section 80TTB for interest income from deposits. This clarifies that while general taxpayers and HUFs can use 80TTA for savings account interest (up to ₹10,000), senior citizens must use 80TTB (which offers a ₹50,000 deduction on interest from all types of deposits).