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Income tax exemptions for senior citizens
November, 26th 2007

Income of senior citizens (including interest income) is exempt from tax upto a limit of Rs 195,000 as compared to the normal limit of Rs 110,000 in the case of any other man taxpayer.

While for any other woman taxpayer, normal exemption limit is Rs 145,000.

No change in the existing dispensation is contemplated at present, said S.S. Palanimanickam, Minister of State for Finance in reply to a question raised by Shri Rewati Raman Singh in the Lok Sabha.

 
 
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