Income Tax Slab for Senior Citizen: Senior Citizen Tax Exemption

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Income Tax Slab for Senior Citizens - FY 2019-20

The tax liabilities for senior citizens are calculated on the basis of their salary, house rent and fixed allowances, alongside other income sources.

Now, assuming that most senior citizens in India do not have a steady source of income, they are eligible for a higher exemption limit than those below 60 years of age. This exemption limit stands at up to Rs. 3 Lakh for individuals above 60 years of age.

Following is an illustration of the income tax rates for senior citizens in India:

Income Tax Slab for Senior Citizens - FY 2019-20

The tax liabilities for senior citizens are calculated on the basis of their salary, house rent and fixed allowances, alongside other income sources.

Following is an illustration of the income tax rates for senior citizens in India:

Income Tax Slab for Super Senior Citizens - FY 2019-20

Similar to tax liability on senior citizens, the tax on individuals above 80 years of age is also calculated on the basis of income generated from various sources like pension, interest on savings, fixed deposits, post office schemes, reverse mortgages, etc.

Following is a table illustrating the income tax slabs for super-senior citizens in India:

Income Tax Slabs	Rate of Tax
Individuals with income of up to ₹3 Lakh	Not applicable
Individuals with income between ₹3 Lakh and ₹5 Lakh	5%
Individuals with income between ₹5 Lakh and ₹10 Lakh	20%
Individuals with income exceeding ₹10 Lakh	30%

Income Tax Slabs	Rate of Tax
For individuals with income of up to ₹5 Lakh	Not applicable
For individuals with income ranging between ₹5 Lakh and ₹10 Lakh	20%
For individuals with income exceeding ₹10 Lakh	30%

Income Tax Slab for Senior Citizen

All about Senior Citizen Tax Slab

Who is Considered as a Senior Citizen in India?

Who is Considered as a Super Senior Citizen in India?

Income Tax Slab for Senior Citizens - FY 2019-20

Income Tax Slab for Senior Citizens - FY 2019-20

Income Tax Slab for Super Senior Citizens - FY 2019-20

Income Tax Rebate for Senior Citizens and Super Senior Citizens

Income Tax Exemptions for Senior and Super Senior Citizens - Union Budget 2018-19

Income Tax Benefits for Senior and Super Senior Citizens in India

FAQs about Income Tax Slab for Senior Citizens

✓ What is the form through which senior citizens can file their income tax returns?

✓ Are NRIs eligible to claim tax rebate under Section 87A?

✓ Can the tax benefits be availed for more than one health insurance policy?

More article about Income Tax in India

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