Senior Citizen Tax: 8 Lakh Income with Deposit Interest
Old vs New regime tax for a senior citizen with 8 lakh total income and 40,000 in deposit interest, using the 80TTB deduction.
A senior citizen with ₹8,00,000 total income pays ₹54,080 under the Old regime and ₹0 under the New regime. The New regime is cheaper here.
- Age band
- Senior (60-80)
- Total income
- ₹8,00,000
- Interest income
- ₹40,000
New regime
Old regime
New regime tax
₹0
0% effective
Old regime tax
₹54,
6.76% effective
Section 80TTB deduction
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Senior citizen exemption benefits apply only under the Old tax regime. The New regime uses the same slabs for every taxpayer regardless of age, and Section 80TTB does not apply under it. Figures are for FY 2025-26 (AY 2026-27) and include the 4% Health and Education Cess.