Senior citizens (aged 60 years or above but below 80 years) and very senior citizens (aged 80 years or above) enjoy higher income tax exemption limits:

• Senior citizens: Income up to ₹3,00,000 is exempt from tax.
• Very senior citizens: Income up to ₹5,00,000 is exempt from tax. These thresholds are higher than the basic exemption limit of ₹2,50,000 for individuals below 60 years.

• A person qualifies as a senior citizen if they are 60 years or older at any time during the financial year.
• A person qualifies as a very senior citizen if they are 80 years or older at any time during the financial year.

Yes, very senior citizens are entitled to the following benefits:

• 1. Higher exemption limit: Income up to ₹5,00,000 is tax-free.
• 2. Exemption from e-filing: They can file paper returns if their total income does not exceed ₹5,00,000 and they do not claim any refund.
• 3. Relief under Section 80DDB: Higher deduction limits for medical treatment of specified diseases (₹1,00,000).

Yes, very senior citizens (aged 80 years or above) are exempted from mandatory e-filing of income tax returns if:

• Their total income does not exceed ₹5,00,000.
• They are not claiming any income tax refund.

In such cases, they can file returns manually using paper forms.

Yes, resident senior citizens are exempted from paying advance tax if they:

• 1. Do not have any income chargeable under the head 'Profits and gains of business or profession.'
• 2. Their income tax liability is paid through self-assessment or TDS deduction.

Senior citizens receive the following benefits on interest income:

• 1. Section 80TTB: Deduction of up to ₹50,000 on interest income earned from savings accounts, fixed deposits, or recurring deposits with banks, post offices, or cooperative banks.
• 2. Higher TDS threshold: No TDS is deducted under Section 194A if interest income does not exceed ₹50,000.

Under Section 80DDB, a senior citizen can claim a deduction of up to ₹1,00,000 for medical treatment of specified diseases, such as cancer, chronic kidney disease, etc. To claim this deduction:

• A certificate from a specialist doctor in a government hospital is required.
• The deduction is reduced by any insurance reimbursement received.

The income tax exemption limits are:

• Senior citizens (aged 60-79 years): ₹3,00,000.
• Very senior citizens (aged 80 years or above): ₹5,00,000.

• Senior citizens: Income up to ₹3,00,000 is tax-free.
• Very senior citizens: Income up to ₹5,00,000 is tax-free.

Additionally, if the total income after deductions under Section 80C to 80U and rebate under Section 87A falls below the taxable limits, no tax is payable.

For example:

• A senior citizen can claim a rebate of up to ₹12,500 under Section 87A if their total income is up to ₹5,00,000.
• This makes income of up to ₹5,00,000 effectively tax-free for both senior and very senior citizens.