Senior citizen tax calculation as per new regime fo AY 21-22

Dear All,

What would be the tax if the net taxable income of resident senior citizen age 63 is Rs 1536400 as per the new tax regime?

What exemption limit is to be followed either 2.5 lacs or 3 lacs.?

Please provide me the perfect solution.

Thank you.
Replies (3)
Quick Summary
This discussion clarifies the tax calculation for a resident senior citizen aged 63 under the new tax regime for AY 21-22. The core question revolves around the applicable exemption limit, with the consensus being that the basic exemption limit for senior citizens remains ₹3 lakh, even within the new tax regime. This is contrasted with the general exemption limit of ₹2.5 lakh applicable under the new regime for non-senior citizens.

Exemption will be 3 lakhs rupees.
Basic exemption limit in the above scenario is 3 lakh .
2.5 lakhs only in New tax regime also..

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