2024 Standard Tax Deduction For Seniors In India. New) are some of the factors that determine an elderly citizen’s income tax. For income between rs 2.5 lakh and rs 5 lakh, a 5% tax applies.
For income between rs 2.5 lakh and rs 5 lakh, a 5% tax applies. Senior citizens can benefit from the standard deduction of rs 50,000, which was introduced in the budget 2020.
