Tax Slabs For Senior Citizens Ay 2024-24. Explore the changes between the new vs old tax regimes, budget implications, and specific details. Surcharge rate from april 1, 2023 under new tax regime.
Check out our guide on senior citizen tax slab at. The income tax slabs for senior citizens under the new regime are as follows:
The Income Tax Slabs For Senior Citizens Under The New Regime Are As Follows:
However, for senior citizens (above 60 years but below 80 years) and super senior citizens (above 80 years of age) the basic tax exemption limit is rs 3 lakh and rs.
In The Image Above Are The Regular Income Tax Rates Under The Old Income Tax Regime That Are Applicable To Individuals.
3 lakhs and number of tax slabs have bene reduced to five as under:.
Senior Citizens Can Choose Between The Two Regimes Based On Their Income.
Images References :
Surcharge Rate From April 1, 2023 Under New Tax Regime.
According to the income tax act of 1961, taxpayers between the ages of 60.
Income Tax Slabs For Individuals.
Senior and super senior citizens can opt for the existing tax regime or the new tax regime with lower rate of taxation (u/s 115 bac of the income tax act) the.