Respected experts,
1. Are there any separate slabs for senior and very senior citizens in the new tax slabs?
2. I am a senior citizen and previously upto a total income of 8 lac I need not require to pay tax after deductions of 50,000(Standard deduction), 50,000(Int on FDs), 1,50,000 (80c) and 50,000(NPS)(Total deduction 3,00,000) as the taxable income after deduction of above comes to 5 lac. Hence I may not have any option other than choosing the old regime. There are people who have more deductions than the above. Please give your advice.
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Income Tax slabs
Replies (2)
1. No.
2. They can stick to old regime..... or even check both the alternatives, and choose the one having more benefit... (only if no business income)
Yes, there is no option available to you other than old tax regime, as per your income pattern and as you said deduction claimed by people depends on the savings and income pattern, not on people to people.
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