What is the tax free limit for senior citizen?
John Thompson
Published Mar 27, 2026
A senior citizen can earn tax-free income up to ₹3 lakh and super senior citizens above 80 years can earn tax-free income to up to ₹5 lakh. A senior citizen can earn tax-free income up to ₹3 lakh and super senior citizens above 80 years can earn tax-free income to up to ₹5 lakh.
Abhishek Soni, CEO, Tax2win.in, an ITR filing website says, “If senior citizens or super senior citizens are opting for new tax regime then the benefit of higher exemption limit will not be available, i.e., limit of higher exemption of Rs 3 lakh in case of senior citizens and Rs 5 lakh in case of super senior citizens …
How do I calculate my senior age?
As per CBDT clarification, an individual born on 1st April would complete each year of his age on 31st March, i.e. for FY 2020-21 (AY 2021-22), the date of birth (DOB) of individual should be on or before 01/04/1961 or 01/04/1941 to complete 60 or 80 years of age on or before 31/03/2021, for getting income tax benefits …
Do you get an extra tax deduction for over 65?
When you’re over 65, the standard deduction increases. For the 2019 tax year, seniors over 65 may increase their standard deduction by $1,300. If both you and your spouse are over 65 and file jointly, you can increase the amount by $2,600.
What’s the tax exemption limit for senior citizens?
There is a minor difference between the tax rates applicable to senior citizens and super senior citizens. While the minimum exemption limit for those who fall in the senior citizens category is Rs.3 lakh, those who qualify as senior citizens are exempt from tax if their income is under Rs.5 lakh.
When do senior citizens not have to pay taxes?
When the senior citizen or super senior citizen dies, the house property is sold to realise the loan. Moreover, resident senior citizens and super senior citizens are also not required to pay any advance tax on their incomes if they are not having income from business or profession.
What are the income tax slabs for senior citizens?
Income Tax Slabs For Senior Citizens FY 2020-2021 Income tax slabs Rate of tax Health and education cess Income up to Rs.3 lakh* No tax NA Income between Rs.3 lakh and Rs.5 lakh 5% 4% of income tax Income between Rs.5 lakh and Rs.10 lakh 20% 4% of income tax Income that exceeds Rs.10 lakh 30% 4% of income tax
Which is the income tax surcharge for senior citizens?
Surcharge if total income is more than Rs.50 lakh and up to Rs.1 crore: 10% of income tax The rebate scheme under Section 87A is applicable for individuals where the total income is not above Rs.5 lakh. A rebate of Rs. 2,000 will be allowable for individuals with an annual income up to Rs.5 lakh. Hence, the payable tax amount will be Rs.23,000.
