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As per the Indian Census 2011, the total number of Indians aged 60 years and above is 10.38 crore in the country, which is projected to be 17.32 crore by 2026. Going by this data, the next pressing question that arises is the consequent economic, social, and, more importantly, healthcare challenges.
Taking such liabilities under consideration, the senior citizen standard deduction and exemption limits on taxation were revised. Further, the income tax benefits for senior and super-senior citizens are also significantly higher than those for individuals below 60 years of age.
But who are considered senior and super senior citizens in India? Let us take a look.
According to the law, a senior citizen is an individual resident between the age group of 60 to 80 years, as on the last day of the previous financial year.
A super senior citizen is an individual resident who is above 80 years of age, as on the last day of the previous financial year.
The following details include the income tax slab for senior citizens above 60 years, their exemptions, and applicable tax benefits.
The Union Budget 2025 proposed changes in the senior and super senior citizen tax slab rates under the new tax regime, which are the same for all taxpayers. This implies that from April 1, 2025, senior citizens between the ages of 60 and 80 and super senior citizens over 80 years of age will have to pay the same taxes as those under 60 years of age under the new tax regime.
Here is the income tax slab for super senior citizens above 80 years and senior citizens between 60-80 years for FY 2025-26.
For taxpayers between the ages of 60 and 80, the rate of taxation under the old tax regime is as follows:
Along with this, you will also be levied with an additional 4% Health and Education cess, which is applicable to the tax amount calculated.
The senior and super senior citizen tax slab for the financial year 2024-25 must follow the given income tax slabs. These slabs are applicable only before Budget 2025.
They are also liable to pay an extra 4% Health and Education Cess on the tax amount calculated.
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.
Additionally, taxpayers belonging to both categories are also liable to pay an extra 4% Health and Education Cess on the tax amount calculated.
If senior and super senior citizens have a taxable income exceeding ₹50 lakh, the tax is assessed as per the following surcharge for FY 2025-26.
Note that for FY 2022-23 (AY 2023-24), the highest surcharge on income over ₹5 Crore was 37%, which has been reduced to 25% by the Union Budget 2023, effective from April 1, 2023.
If senior citizens opt for the new tax regime for FY 2025-26 then as per Budget 2025, under Section 87A of the Income Tax Act 1961, they are eligible for a rebate up to the net taxable income of ₹12 lakhs, which was earlier ₹7 lakhs in FY 2024-25.
However, this rebate is not applicable for income taxed at special rates (e.g., capital gains under section 112A).
Thus, senior and super-senior citizens can claim tax exemptions under Section 87A in FY 2025-26 if they meet the conditions mentioned below –
But before calculating your tax liability, you should also learn about the income tax exemptions for senior citizens that can make life significantly easier for you. Let us take a look!
After the Union Budget 2025, the revised income tax slabs under the new regime for FY 2025-26 increased the senior and super senior citizen exemption limit to ₹4 lakhs under the new tax regime, effective April 1, 2025.
However, under the old tax regime, the senior citizen income tax exemption limit is up to ₹3 lakhs, and for super senior income tax exemption limit is up to ₹5 lakhs under the old tax regime in a financial year.
Here are some more common senior citizen tax deductions and benefits that individuals aged 60 and above can avail of for FY 2025-26.
Pensioners above 60 years can claim a senior citizen standard deduction of up to ₹50,000 under the head 'Income from salaries’ on their pension only. Family pensioners can also claim a standard deduction of up to ₹15,000.
Under Section 80DDB, senior citizen deduction of up to ₹1 lakh is allowed for dependent citizens above the age of 60. This senior citizen medical bills tax exemption is available if they undertake any treatment for a specified disease/critical illness in a financial year.
The 80D exemption for senior citizens above the age of 60 on payment of the health insurance premium is up to ₹50,000. For taxpayers under 60 years of age, this limit is ₹25,000.
Additionally, the super senior citizens who are not medically insured can also enjoy this benefit. For super citizens, under the 80D exemption for senior citizens, the deduction for the payment of medical premiums, as well as the actual expenses incurred on their treatment, is allowed.
This senior citizen deduction under 80TTB considers interest earned in the savings bank account, deposits in a bank, and/or deposits in the post office.
The senior citizen deduction limit on such income is ₹50,000 for citizens above the age of 60. Also, when filing their Income Tax Return (ITR), senior citizens must fill the form 15H.
Also, after Budget 2025, senior citizens over the age of 75 will continue to be taxed as per the applicable tax slab. This means that taxpayers belonging to such category who only have pension income and interest income from the scheduled bank in which the pension income is received, shall be exempt from filing ROI (Return of Income).
After Budget 2025, senior citizens who are residents of India also enjoy the benefit of a higher TDS deduction on interest earned up to ₹1 lakh annually, which was earlier ₹50,000.
Further, the budget also hiked the TDS threshold from ₹2.4 lakh to ₹6 lakh annually, for rent paid for land/building, effective from April 1, 2025.
Senior citizen deduction also includes withdrawals from NSS (National Savings Scheme) accounts after August 29, 2024, which are exempt from taxes under the amended Section 80CCA.
Earlier, this senior citizen income tax exemption was allowed only when the withdrawals were made to close the NSS account due to the death of the account holder.
Under this scheme, the regular instalments senior citizens receive upon mortgaging their home for life, while the ownership and possession remain with them, are entirely exempt from income tax.
Thus, with such income tax benefits, the government has tried to reduce the tax burden on the country's senior and super-senior citizens. So, before you pay your income taxes, know the applicable income tax slab for senior citizens above 60 years, exemptions, and subsequent tax benefits to ensure you live a financially independent life in your golden years.
In case senior citizens and super senior citizens opt for the new tax regime for FY 2023-24, they would have to forego certain income tax benefits, which are as follows:
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