Hi
If one person coming to 60 years of age, his dob is 06-02-1952 so he was completing the age of 60 years on 06-02-2012, and according to the latest budget, the senior citizenship age was reduced to 60 years.
So, will he avail the senior citizenship facility for this financial year and can avail the facility of Rs.2,50,000/- as basic exemption ?
The IT Act, says that before the end of the financial year (i.e. 31.03) if the senior's age is so, he can claim the benefit.
FOR THE F.Y 11-12, 60 YRS OF AGE WILL BE TREATED AS SENIOR CITIZEN. SO
YES that person can cliam the benifit of senior citizen for F.Y.2011-12 / A.Y. 2012-13.
CAclubindia
