New Delhi, As the date of filing income tax returns approaches, people start manipulating to save tax. Senior citizens get many tax benefits as compared to ordinary taxpayers. Senior citizens can get a substantial tax exemption by keeping their information. If we talk about the tax of senior citizens, then the income of a person above 60 years and below 80 years of age up to Rs 3 lakh is exempted from tax.
Talking about very senior citizens i.e. elderly people above 80 years, the tax exemption limit for them is Rs 5 lakh, while for non-senior citizens this limit is only Rs 2.5 lakh.
Know what benefits
senior citizens get, this is just one of the many benefits available to senior citizens. If you are a senior citizen or your parents do not have specific knowledge about them, then you can know about all these benefits with us. Download Money9’s application to know about 5 big tax concessions available to the elderly. You can download the app through this link
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