Benefits For Senior Citizens Under Income Tax Act 1961

• October 21, 2020
• CA Chandan Agarwal's Office

In our country, great respect has been given to the Senior Citizens in all fields including under the Income Tax Act. In all modes of travelling concessional rates are provided either by Air, Train or Road, separate queue etc. Under the Income Tax Act, benefits are given to Senior Citizen and Very Senior Citizen that too only Resident of India.

Senior Citizen must be of the age of 60 years or above but less than 80 years at any time during the respective year

Very Senior Citizen must be of the age of 80 years or above at any time during the respective year.

Higher Basic Exemption Limits:

Read more on: https://taxguru.in/income-tax/benefits-senior-citizens-income-tax-act-1961.html