Income Tax Benefits for Senior Citizens

8 Special Income Tax Benefits for Senior Citizens

Income Tax Slabs for Senior Citizens - Financial Year 2019-20

Income tax slabs

Rate of tax

Health and Education Cess

Income up to ₹3 lakh*

No tax

NA

Income between ₹3 lakh and ₹5 lakh

5%

4% of income tax

Income between ₹5 lakh and ₹10 lakh

20%

4% of income tax

Income that exceeds ₹10 lakh

30%

4% of income tax

Income Tax Slabs for Super Senior Citizens (more than 80 years of Age) - Financial Year 2019-20

Income tax slabs

Rate of tax

Health and Education Cess

Income up to ₹5 lakh*

No tax

NA

Income between ₹5 lakh and ₹10 lakh

20%

4% of income tax

Income that exceeds ₹10 lakh

30%

4% of income tax

  • Surcharge if total income is more than Rs.50 lakh and up to Rs.1 crore: 10% of income tax
  • Surcharge if total income exceeds Rs.1 crore: 15% of income tax

FAQs about Tax Benefits for Senior Citizens