Why super senior citizens have high slab?

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Mr.Doubt (Querist)

14 November 2012 May I know the Logic behind for giving High Slab for Super Senior Citizens i.e., up to 5 lakhs Nil rate of Tax.

Is this for meeting their Expenditure towards health or for some what different reason?

V K Bajaj

V K Bajaj (Expert)

14 November 2012 Expenditure toward Health is the main reason and not the one.

As the super senior citizen have already paid too much taxes in their life so Govt decided to collect tax from the person earning above Rs. 5 Lakhs.

Day to Day rise in cost of living is also the main reason.

The ruling Govt always enacts law keeping in view the Revenue and popularity. As the number of Super Senior Person are less so the ruling party think wise to loose some revenue in order to gain much popularity.

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@VaibhavJ

@VaibhavJ (Expert)

15 November 2012 Hey,

Basic exemption is 2 lacs + 1 lac is u/80C + 1.5 lac Int on Housing loan + 35k to 40k u/s80D.

So sum total of whic comes near to 5 Lacks, we can not expect super senior citizen to invest for future so direct exemption is given

Thanks//Vaibhav

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