If an individual becomes 60yrs on 01 Feb 2024 can he claim senior citizen

19 November 2023

If an individual becomes 60yrs on 01 Feb 2024 can he claim Rs 300000 as income for which there's Nil tax for AY2024-25?
PLEASE CLARIFY GIVING SECTION

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6 Replies

Manish (CA) (1176 Points)
Replied 19 November 2023

Yes, it’s written in the finance act like this,

…being a resident in India, who is of the age of sixty years or more but less than eighty years at any time during the previous year…

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Samantha J (1236 Points)
Replied 19 November 2023

Gr8 Please confirm section number.

Manish (CA) (1176 Points)
Replied 19 November 2023

See first schedule where tax rates are given.

Samantha J (1236 Points)
Replied 21 November 2023

Can one also claim increased Sec80D limit for senior citizens? Give similar law back up

Manish (CA) (1176 Points)
Replied 21 November 2023

Yes.

Same thing written in the section 80D.

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Samantha J (1236 Points)
Replied 22 November 2023

Thank you

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