Section 194P of the Income Tax Act, 1961 provides conditions for exempting Senior Citizens from filing income tax returns aged 75 years and above. Conditions for exemption are: The senior citizen will submit a declaration to the specified bank. The bank is a ‘specified bank’ as notified by the Central Government. In respect of AY 2021–22 and AY 2022–23, a senior citizen can opt for either old or new tax regime as under: Income tax Rate Slabs for Senior Citizens of the age from 60 to 80 years: ... Income Tax slabs for Super Senior citizens (80 years and above in age): ... New Personal Income Tax Regime (115BAC): ... Higher Deduction limit for Medical ... The income tax slab for senior citizens above 60 years under the old tax regime is the same for both financial years 2024-25 and 2025-26, calculated as per their respective income tax slabs. Under this new tax regime, there is no higher tax exemption limit for senior citizens (between the age of 60 and 80) or for super senior citizens (above the age of 80).
