Exemption limit for senior citizens under new tax regime

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47 Points Posted on 24 July 2020
pls provide tax exemption limit for senior and super senior citizens in incine tax act new tax regime...
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On 24 July 2020 at 14:54 Report
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This discussion clarifies the tax exemption limits for senior and super senior citizens within the new tax regime. It confirms that the exemption thresholds are the same for all age groups, including those under 60, senior citizens, and super senior citizens. The response details the tax slabs and corresponding rates applicable from nil up to amounts exceeding Rs. 15,00,000.

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Tax and Business Consultant
11616 Points Posted on 24 July 2020
It's same for all whether less than 60 or more than that, whether senior/super senior

Up to Rs. 2,50,000 Nil
Rs. 2,50,001 to Rs. 5,00,000 5%
Rs. 5,00,001 to Rs. 7,50,000 10%
Rs. 7,50,001 to Rs. 10,00,000 15%
Rs. 10,00,001 to Rs. 12,50,000 20%
Rs. 12,50,001 to Rs. 15,00,000 25%
Above Rs. 15,00,000 30%
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On 24 July 2020 at 15:13
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47 Points Posted on 24 July 2020
Thanks
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On 24 July 2020 at 15:16
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Tax and Business Consultant
11616 Points Posted on 24 July 2020
You are most welcome
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On 24 July 2020 at 15:18

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