Interest deduction for senior citizens limits relief on interest from bank, co op and post office deposits. Section 80TTB permits resident senior citizens to claim a deduction for interest income on deposits with banks, cooperative banks engaged in banking business, and the Post Office, allowing full deduction where aggregate interest falls below the statutory threshold and a fixed maximum deduction otherwise; deposits held by or on behalf of firms, associations of persons or bodies of individuals are excluded from deduction for partners or members. 'Senior citizen' means a resident individual aged sixty years or more during the relevant previous year.