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Senior citizen age calculation

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Govindarajan

Manager

46 Points Posted on 23 September 2015

Dear Experts,

Please clarify the following

To avail senior citizen exemption limit, whether the member should have to complete 60 years during the financial year or it is sufficient if he completes 59 years and entering into 60th year during the financial year.

Say for example, if the date of birth is 05.02.1956, he has completed 59 years on 04.02.2015 and entering in to 60th year on 05.02.2015. Whether the member is eligible for senior citizen exemption for the ay 2015-16 or not?

Replies (5)

pallav

still a learner....

483 Points Posted on 23 September 2015

No, in this case assesee will not be treated as senior citizen ..He must attain age of 60 years during financial year 2014-15.

Ashok J

CA Final

848 Points Posted on 23 September 2015

You should complete 60 yrs during fin yr

Ankita Bhatta

Student CA IPC / IPCC

24 Points Posted on 23 September 2015

Hello, In the case of a resident individual who is atleast 60 years of age "at any time during the previous year" but less than 80 years of age, the exemption limit of Rs. 300000 is available. Therefore, a person needs to complete 60 years of age at any time in the previous year to count as a senior citizen. Hope it helped...😊

Miss Rinkal

Student

1497 Points Posted on 23 September 2015

I agree partially with Ankita Bhatta. 60 years age will be calculated when individual attains 60 years at any time during the previous year. Although such person would attain 60 years of age in 2016 and hence such person is eligible for senior citizen exemption only in ay 2016-17. It is completed 60 years and not start of 60th year