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Benefits Available to Senior Citizens

11 January 2010

Hello Friends,

Can anybody send me All benefits regarding exemptions, deductions, reliefs,etc available to Senior Citizens in The Income Tax Act, 1961 for A.Y. 2009-2010 and 2010-2011.

Its urgent.

Tks in advance

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2 Replies

Amir (Learner) (4016 Points)
Replied 11 January 2010

Dear Jitendra,

Benegits to Senior Citizen

1) Slab Benefit -

(III) In the case of every individual, being a resident in India, who is of the age of sixty-five years or more at any time during the previous year,—
Rates of income-tax
(1)	where the total income does not exceed Rs. 2,25,000	Nil;
(2)	where the total income exceeds Rs. 2,25,000 but does not exceed Rs. 3,00,000	10 per cent of the amount by which the total income exceeds Rs. 2,25,000;
(3)	where the total income exceeds Rs. 3,00,000 but does not exceed Rs. 5,00,000	Rs. 7,500 plus 20 per cent of the amount by which the total income exceeds Rs. 3,00,000;
(4)	where the total income exceeds Rs. 5,00,000	Rs. 47,500 plus 30 per cent of the amount by which the total income exceeds Rs. 5,00,000