If an individual becomes 60yrs on 01 Feb 2024 can he claim Rs 300000 as income for which there's Nil tax for AY2024-25?
PLEASE CLARIFY GIVING SECTION
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If an individual becomes 60yrs on 01 Feb 2024 can he claim senior citizen
Replies (6)
Quick Summary
Yes, it’s written in the finance act like this,
…being a resident in India, who is of the age of sixty years or more but less than eighty years at any time during the previous year…
Gr8 Please confirm section number.
See first schedule where tax rates are given.
Can one also claim increased Sec80D limit for senior citizens? Give similar law back up
Yes.
Same thing written in the section 80D.
Thank you
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