the slab rates of this year has been divided into 60-80 yrs and 80 above... but does the defination of senior citizen change because of this... as to senior citizen age reduced from 65 yrs to 60 yrs in context of deductions
saba fatma (Articleship) (139 Points)
31 March 2012the slab rates of this year has been divided into 60-80 yrs and 80 above... but does the defination of senior citizen change because of this... as to senior citizen age reduced from 65 yrs to 60 yrs in context of deductions
CA Naga Praveen
(Practice)
(61 Points)
Replied 31 March 2012
NO....Explanation as follows
For A.Y 2012-2013,
The age is 65 years (senior citizen) for the purpose of sections 80D, 80DDB, 197A(1c) i.e 15H declaration for TDS and 10(43)
and
Only for basic exemption limits the age for senior citizen is reduced from 65 years to 60years....
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