Senior citizens vs super senior citizens: Income tax benefits compared5 min read 30 Mar 2023, 07:19 PM IST
There is no difference between the tax rates for Senior citizens (60-80 years of age) and Super senior citizens (80+ years) in the old tax regime.
A resident Indian who is 60 years of age or older is considered a senior citizen, while a resident Indian who is 80 years of age or more is considered a super senior citizen at any point during the pertinent financial year. For these citizens, there are income tax benefits available under payment of advance tax, standard deduction, deductions under medical insurance premiums, deduction for interest earned from bank and post office, and much more. The income tax benefits for senior citizens and super senior citizens are therefore contrasted below by several industry specialists.
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