2024 Standard Tax Deduction For Seniors In India. In india, senior citizens, who are above the age of 60 years, and super senior citizens, who are beyond the age of 80 years, are given certain benefits in terms of income tax. Section 194p of the income tax act, 1961 provides conditions for exempting senior citizens from filing income tax returns aged 75 years and above.
A super senior citizen is an individual resident who is 80 years or above, at any time during the previous year. Standard deduction in the new tax regime will be increased from rs 50,000 to rs 75,000, finance minister nirmala sitharaman said tuesday as she announced the.
