Know the income tax limit for senior and super senior citizens in 2019-20Senior citizens who are 60 years or above but less than 80 years with an income of up to Rs 3 lakh are exempted from paying tax. However, income between Rs 3,00,001 to Rs 5 lakh will be taxed at the rate of 5%, income from Rs 5,00,001 to Rs 10 lakh will be taxed at 20% and those with income above Rs 10 lakh will be taxed at 30%, respectively.
Super senior citizens who are 80 years and above, with an income of up to Rs 5 lakh, will be exempted from paying tax. While income between Rs 5,00,001 to Rs 10 lakh will be taxed at 20% and those above Rs 10 lakh will be taxed at 30%. Same taxation rates are applicable for super senior citizens. The tax exemption threshold for super senior citizens is Rs 5,00,000.
In addition to the usual deduction under Section 80C of the IT Act, a senior citizen can also claim additional tax benefits under Section 80D, Section 80E, Section 80EE and Section 80CCD.