Senior Citizens and Super Senior Citizens for AY 2026-2027

Returns and Forms Applicable for Senior citizens and super senior citizens for AY 2026-27
Disclaimer: The content on this page is only to give an overview and general guidance and is not exhaustive. For complete details and guidelines please refer to the Income Tax Act, 1961 Forms, Rules and Notifications. "An individual resident who is 60 years or above in age but less than 80 years at any time during the previous year is considered as Senior Citizen for Income Tax purposes. A Super Senior Citizen is an individual resident who is 80 years or above, at any time during the previous year."

Returns and Forms Applicable for Senior citizens and super senior citizens for AY 2026-27

Disclaimer: The content on this page is only to give an overview and general guidance and is not exhaustive.

For complete details and guidelines please refer to the Income Tax Act, 1961 Forms, Rules and Notifications.

"An individual resident who is 60 years or above in age but less than 80 years at any time during the previous year is considered as Senior Citizen for Income Tax purposes. A Super Senior Citizen is an individual resident who is 80 years or above, at any time during the previous year."

This return is applicable for a Resident (other than Not Ordinarily Resident) Individual having Total Income from any of the following sources up to ₹ 50 lakh.

Salary/ Pension

One House Property

Other sources (Interest, Family Pension, Dividend etc.)

Agricultural Income up to ₹ 5,000

Capital gains u/s 112A up to rs 125000

Note: ITR-1 cannot be used by a person who:

(a) is a Director in a company

(b) has short term capital gain

(d) has held any unlisted equity shares at any time during the previous year

(e) has any asset (including financial interest in any entity) located outside India

(f) has signing authority in any account located outside India

(g) has income from any source outside India

(h) is a person in whose case tax has been deducted u/s 194N of Income Tax Act,1961.

(i) is a person in whose case payment or deduction of tax has been deferred on ESOP

(j) has total income exceeding Rs. 50 lakhs.

This return is applicable for Individual and Hindu Undivided Family (HUF).

Not having income under the head Profits or Gains of Business or Profession

Who is not eligible for filing ITR-1

This return is applicable for Individual and Hindu Undivided Family (HUF).

Having income under the head Profits or Gains of Business or Profession

Who is not eligible for filing ITR-1, 2 or 4

This return is applicable for an Individual or Hindu Undivided Family (HUF), who is Resident other than not ordinarily resident or a Firm (other than LLP) which is a Resident having Total Income up to ₹ 50 lakh and having Income from Business and Profession which is computed on a presumptive basis and income from any of the following sources:

Salary / Pension

One House Property

Other sources (Interest, Family Pension, Dividend etc.)

Agricultural Income up to ₹ 5,000

Income from Business / Profession computed on presumptive basis u/s 44AD / 44ADA / 44AE of Income Tax Act,1961

Capital gains u/s 112A (Income Tax Act,1961) up to Rs 125000

Note: ITR-4 cannot be used by a person who:

(a) is a Director in a company

(b) has short term capital gain

(d) has held any unlisted equity shares at any time during the previous year

(e) has any asset (including financial interest in any entity) located outside India

(f) has signing authority in any account located outside India

(g) has income from any source outside India

(h) is a person in whose case tax has been deducted u/s 194N of Income Tax Act,1961.

(i) is a person in whose case payment or deduction of tax has been deferred on ESOP

(j) has total income exceeding Rs. 50 lakhs.

Note: 2 ITR-4 (Sugam) is not mandatory. It is a simplified return form to be used by an Assessee, at his option, if he is eligible to declare Profits and Gains from Business and Profession on presumptive basis u/s 44AD, 44ADA or 44AE of Income Tax Act,1961.

Note:

Section 194P of the Income Tax Act, 1961 provides conditions for exempting Senior Citizens from filing income tax returns aged 75 years and above.

Conditions for exemption are:

Senior Citizen should be of age 75 years or above
Senior Citizen should be ‘Resident’ in the previous year
Senior Citizen has pension income and interest income only & interest income accrued / earned from the same specified bank in which he is receiving his pension
The senior citizen will submit a declaration to the specified bank.
The bank is a ‘specified bank’ as notified by the Central Government. Such banks will be responsible for the TDS deduction of senior citizens after considering the deductions under Chapter VI-A and rebate under Section 87A of Income Tax Act,1961.
Once the specified bank, as mentioned above, deducts tax for senior citizens above 75 years of age, there will be no requirement to furnish income tax returns by senior citizens.

1. Form 15H - Declaration to be made by an individual (who is 60 years of age or more) claiming certain receipts without deduction of tax

Submitted by	Details provided in the form
A Resident Individual, 60 years or more of age to Bank, for not deducting TDS on interest income	Estimated Income for the FY

Provided by

Details provided in the form

An Employee to his Employer(s)

Evidence or particulars of HRA, LTC, Deduction of Interest on Borrowed Capital, Tax Saving Claims / Deductions for the purpose of calculating Tax to be Deducted at Source (TDS).

Provided by	Details provided in the form
An Employer to Employee	Salary paid, Deductions / Exemptions and Tax Deducted at Source for the purpose of computing tax payable / refundable.

Provided by	Details provided in the form
Deductor to Deductee	Form 16A is a Tax Deducted at Source (TDS) Certificate issued quarterly that captures the amount of TDS, Nature of Payments and the TDS Payments deposited with the Income Tax Department.

Form 26 AS

AIS (Annual information Statement)

Provided by:

Income Tax Department (It is available on e-Filing Portal:

Details provided in the form:

Tax Deducted / Collected at Source.

Provided by:

Income Tax Department (It can be accessed after logging on to Income Tax e-Filing portal)

Go to e-filing portal > login > AIS

Details provided in the form:

Tax Deducted / Collected at Source
SFT Information
Payment of taxes
Demand / Refund

Other information (like Pending/Completed proceedings, GST Information, Information received from foreign government etc)

Submitted by Taxpayer to claim relief in ITR u/s 89(1)	Details provided in the form
An Employee to the Income Tax Department	Arrears / Advance Salary Gratuity Compensation on Termination Commutation of Pension

Submitted by	Details provided in the form
Taxpayer	Income from a country or specified territory outside India and Foreign Tax Credit claimed

Submitted by

Details provided in the form

Taxpayer who is required to get his accounts audited by an Accountant u/s 44AB of Income Tax Act,1961.

To be furnished one month before the due date for furnishing the return of income under sub-section (1) of section 139 of Income Tax Act,1961

Report of audit of Accounts and Statement of Particulars required to be furnished u/s 44AB of the Income Tax Act, 1961.

Submitted by

Details provided in the form

Taxpayer who is required to obtain a report from an Accountant u/s 92E (Income Tax Act,1961) for entering into an International Transaction or Specified Domestic Transaction.

To be furnished one month before the due date for furnishing the return of income under sub-section (1) of section 139 of Income Tax Act,1961.

Audit report u/s 92E Income Tax Act, 1961, relating to International Transaction(s) and Specified Domestic Transaction(s).

Tax Slabs for AY 2026-27***

New Tax Regime Vs Old Tax Regime:

The Finance Act 2023 has amended the provisions of Section 115BAC w.e.f AY 2024-25 to make new tax regime the default tax regime for the assessee being an Individual, HUF, AOP (not being co-operative societies), BOI or Artificial Juridical Person. However, the eligible taxpayers have the option to opt out of new tax regime and choose to be taxed under old tax regime. The old tax regime refers to the system of income tax calculation and slabs that existed before the introduction of the new tax regime. In the old tax regime, taxpayers have the option to claim various tax deductions and exemptions.However, in default tax regime, tax rates compared to old tax regime.

Non-business cases:

In "non-business cases", option to choose the regime can be exercised every year directly in the ITR and such ITR is required to be filed on or before the due date specified under section 139(1) of Income Tax Act,1961.

Business cases:

In case of eligible taxpayers having income from business and profession, if taxpayer wants to opt out of default tax regime, they can furnish Form-10-IEA on or before the due date u/s 139(1) for furnishing the return of income. Also, for the purpose of withdrawal of such option i.e. re-entering into new tax regime shall also be done by way of furnishing Form No.10-IEA. However, option to withdraw old tax regime and re-entering into default tax regime is available only subsequent AY and - is available only once in lifetime for eligible taxpayers having income from business and profession.

1.Tax rates for Individual (resident or non-resident), 60 years or more but less than 80 years of age anytime during the previous year are as under:

Old Tax Regime		Default Tax Regime u/s 115BAC of Income Tax Act,1961
Income Tax Slab	Income Tax Rate	Income Tax Slab	Income Tax Rate
Up to ₹ 3,00,000	Nil	Up to ₹ 4,00,000	Nil
₹ 3,00,001 - ₹ 5,00,000**	5% above ₹ 3,00,000	₹ 4,00,001 - ₹ 8,00,000**	5% above ₹ 4,00,000
₹ 5,00,001 - ₹ 10,00,000	₹ 10,000 + 20% above ₹ 5,00,000	₹ 8,00,001 - ₹ 12,00,000	₹ 20,000 + 10% above ₹ 8,00,000
₹ 10,00,000	₹ 1,10,000 + 30% above ₹ 10,00,000	₹ 12,00,001 - ₹ 16,00,000	₹ 60,000 + 15% above ₹ 12,00,000
		₹ 16,00,001 - ₹ 20,00,000	₹ 1,20,000 + 20% above ₹ 16,00,000
		₹ 20,00,001 - ₹ 24,00,000	₹ 2,00,000 + 25% above ₹ 20,00,000
		Above ₹ 24,00,000	₹ 3,00,000 + 30% above ₹ 24,00,000

2.Tax rates for Individual (resident or non-resident) 80 years of age or more anytime during the previous year are as under:

Old Tax Regime		New Tax Regime u/s 115BAC
Income Tax Slab	Income Tax Rate	Income Tax Slab	Income Tax Rate
Up to ₹ 5,00,000	Nil	Up to ₹ 3,00,000	Nil
₹ 5,00,001 - ₹ 10,00,000	20% above ₹ 5,00,000	₹ 3,00,001 - ₹ 7,00,000**	5% above ₹ 3,00,000
₹ 10,00,001- ₹ 50,00,000	₹ 1,00,000 + 30% above ₹ 10,00,000	₹ 7,00,001 - ₹ 10,00,000	₹ 20,000 + 10% above ₹ 7,00,000
		₹ 10,00,001 - ₹ 12,00,000	₹ 50,000 + 15% above ₹ 10,00,000
		₹ 12,00,001 - ₹ 15,00,000	₹ 80,000 + 20% above ₹ 12,00,000
		₹ 15,00,001- ₹ 50,00,000	₹ 1,40,000 + 30% above ₹ 15,00,000
		₹ 50,00,001- ₹ 100,00,000	₹ 1,40,000 + 30% above ₹ 15,00,000
		₹ 100,00,001- ₹ 200,00,000	₹ 1,40,000 + 30% above ₹ 15,00,000
		Above ₹ ₹ 200,00,001	₹ 1,40,000 + 30% above ₹ 15,00,000

*Note: The enhanced surcharge of 25% & 37%, as the case may be, is not levied, from income chargeable to tax under sections 111A, 112, 112A and Dividend Income. Hence, the maximum rate of surcharge on tax payable on such incomes shall be 15%, except when the income is taxable under section 115A, 115AB, 115AC, 115ACA and 115E.

Applicable Surcharge Rates:

Income Limit	Surcharge Rate on the amount of Income Tax (New Tax Regime)	Surcharge Rate on the amount of Income Tax (Old Tax Regime)
Up to Rs. 50 lakhs	Nil	Nil
Rs. 50 lakhs to Rs. 1 Crore	10%	10%
Rs. 1 Crore to Rs. 2 Crores	15%	15%
Rs. 2 Crores to Rs. 5 Crores	25%	25%
Above Rs. 5 Crores	25%	37%

Note: The enhanced surcharge of 25% & 37%, as the case may be, is not levied, from income chargeable to tax under sections 111A, 112, 112A (Income Tax Act,1961) and Dividend Income. Hence, the maximum rate of surcharge on tax payable on such incomes shall be 15%, except when the income is taxable under section 115A, 115AB, 115AC, 115ACA and 115E of Income Tax Act,1961.

**Rebate u/s 87A of income Tax Act,1961: Resident Individuals are also eligible for a Rebate of up to 100% of income tax subject to a maximum limit depending on tax regimes as under:

Tax regime	Rebate Limit	Rebate condition
New Tax Regime	₹ 60,000	Taxable income shall not exceed 12,00,000
Old Tax Regime	₹ 12,500	Taxable income shall not exceed 5,00,000

***Note : Health & Education cess @ 4% to be paid on the amount of income tax plus Surcharge (if any) in both the regimes.

Marginal relief can also be claimed from surcharge if the amount of income earned exceeding ₹ 50 lakhs, ₹ 1 crore, ₹ 2 crores or ₹ 5 crores respectively under old tax regime and the amount of income earned exceeding ₹ 50 lakhs, ₹ 1 crore, ₹ 2 crores respect

Net Income Range		Marginal Relief
Exceeds (Rs.)	Does not exceed (Rs.)
50 Lakh	1 Crore	Amount payable as income tax and surcharge shall not exceed the total amount payable as income tax on total income of Rs 50 Lakh by more than the amount of income that exceeds Rs 50 Lakhs under both the tax regimes.
1 Crore	2 Crores	Amount payable as income tax and surcharge shall not exceed the total amount payable as income-tax on total income of Rs. 1 crore by more than the amount of income that exceeds Rs. 1 crore under both the tax regimes.
2 Crores	5 Crores	Amount payable as income tax and surcharge shall not exceed the total amount payable as income-tax on total income of Rs. 2 crores by more than the amount of income that exceeds Rs. 2 crores under both the tax regimes.
5 Crores	–	Amount payable as income tax and surcharge shall not exceed the total amount payable as income-tax on total income of Rs. 5 crores by more than the amount of income that exceeds Rs. 5 crores under old regime.

Investments / Payments / Incomes on which I can get tax benefit

A. Following deductions will be available to a taxpayer opting for the New Tax Regime u/s 115BAC (1A):

1. Section 24(b) – Deduction from Income from House Property on interest paid on housing loan:

Nature of Property	Purpose of loan	Allowable (Maximum limit)	Details Required to fill in ITR
Let Out	Construction or purchase of house property	Actual value without any limit (But loss if any under the head “Income from house property” cannot be set off against any other heads in schedule CYLA and can not be carry forward to further years)	• Loan taken from bank / other than bank • Name of the bank / institution / person from whom the loan is taken • Loan Account Number. • Date of sanction of loan • Total Amount of loan • Loan outstanding as on last date of financial year • Interest on borrowed capital u/s 24(b)

2. Tax deductions specified under Chapter VIA of the Income Tax Act,1961

Section 80CCD(2)

Deduction towards contribution made by an employer to the Pension Scheme of Central Government

For all categories of employers

Deduction limit of 14% of salary

B. Following deductions will be available to a taxpayer opting for old tax regime:

Section 24(b) – Deduction from Income from House Property on interest paid on housing loan & housing improvement loan. In case of self- occupied property, the upper limit for deduction of interest paid on housing loan is ₹ 2 lakh. Interest on loan u/s 24(b) allowable is tabulated below:

Nature of Property	When loan was taken	Purpose of loan	Allowable (Maximum limit)	Details Required
Self-Occupied	On or after 1/04/1999	Construction or purchase of house property	₹ 2,00,000	• Loan taken from bank / other than bank • Name of the bank / institution / person from whom the loan is taken • Loan Account Number. • Date of sanction of loan • Total Amount of loan • Loan outstanding as on last date of financial year • Interest on borrowed capital u/s 24(b)
	On or after 1/04/1999	For Repairs of house property	₹ 30,000
	Before 1/04/1999	Construction or purchase of house property	₹ 30,000
	Before 1/04/1999	For Repairs of house property	₹ 30,000
Let Out	Any time	Construction or purchase of house property	Actual value without any limit Maximum loss allowed to be set off during the AY is Rs. 200000 against other heads of income and balance can be carry forward to future years upto 8 Assessment years.

2. Tax deductions specified under Chapter VIA of the Income Tax Act

Section 80C, 80CCC, 80CCD (1)

Deduction towards payments made to

80C

Life Insurance Premium
Provident Fund
Subscription to certain equity shares
Tuition Fees
National Savings Certificate
Housing Loan Principal
Other various items

Combined deduction limit of ₹ 1,50,000

Details to be filled in ITR for each eligible payment

Policy number or document identification number
Amount eligible for deduction u/s 80C

80CCC

Annuity plan of LIC or other insurer towards Pension Scheme

80CCD(1)

Pension Scheme of Central Government

Section 80CCD(1B)

Deduction towards payments made to Pension Scheme of Central Government, excluding deduction claimed under 80CCD (1)

Deduction limit of ₹ 50,000

Note:
Taxpayers claiming deduction u/s 80 CCD (1),80 CCD (1B) must provide the details as below:
• Amount of contribution
• PRAN of taxpayer

Section 80CCD(2)

Deduction towards contribution made by an employer to the Pension Scheme of Central Government

If the Employer is a PSU or Others

Deduction limit of 10% of salary

If the Employer is Central or State Government

Deduction limit of 14% of salary

Section 80D

Deduction towards payments made to Health Insurance Premium & Preventive Health check up

For Self / Spouse or Dependent Children

₹ 25,000 (₹ 50,000 if any person is a Senior Citizen)

₹ 5,000 for preventive health check up, included in above limit

For Parents

₹ 25,000 (₹50,000 if any person is a Senior Citizen)

₹ 5,000 for preventive health check up, included in above limit

Deduction towards Medical Expenditure incurred on a Senior Citizen, if no premium is paid on health insurance coverage

For Self/ Spouse or Dependent Children

Deduction limit of ₹ 50,000

For Parents

Deduction limit of ₹ 50,000

Please Note:

If you want to claim deduction u/s 80 D, then you must enter the details below:
•   Name of the Insurer (Insurance Company)
•   Policy Number
•   Health Insurance amount

Section 80DD

Deduction towards payments made towards maintenance or medical treatment of a Disabled Dependent or Paid / Deposited any amount under relevant approved scheme

Flat deduction of
₹ 75,000
available for a person with Disability, irrespective of expense incurred.

The deduction is
₹ 1,25,000
if the person has Severe Disability (80% or more).=

Note:

For claiming deduction u/s 80 DD below details need to be provided in ITR:
•   Nature Of Disability
•   Type of Disability
•   Amount of Deduction
•   Type of dependent
•   PAN of the Dependent
•   Aadhaar of the Dependent
•   Acknowledgement no. of form 10 IA filed in case of autism, cerebral palsy, or multiple disabilities
•   UDID number (if available )

Section 80DDB

Deduction towards payments made towards Medical treatment of Self or Dependant for specified diseases

Deduction limit of ₹ 40,000

(₹ 1,00,000 if Senior Citizen)

Section 80E

Deduction towards interest payments made on loan for higher education of Self or relative

Total amount paid towards interest on loan taken

Note:

For claiming deduction under section 80E, below details need to be provided in ITR :
•   Loan taken from bank / institution
•   Name of the institution / bank from which the loan is taken
•   Loan Account Number of the bank / institution.
•   Date of sanction of loan
•   Total Amount of loans
•   Loan outstanding as on last date of financial year
•   Interest u/s 80E

Section 80EE

Deduction towards interest payments made on loan taken for acquisition of residential house property where the loan is sanctioned between 1st April 2016 to 31st March 2017

Deduction limit of
₹ 50,000
on the interest paid on loan taken

Note:

For claiming under section 80EE, below details need to be provided in ITR
•   Name of the bank / institution from which the loan is taken
•   Loan Account Number of the bank / institution.
•   Date of sanction of loan
•   Total Amount of loan
•   Loan outstanding as on last date of financial year
•   Interest u/s 80EE

Section 80EEA

Deduction available only to individuals towards interest payments made on loan taken for acquisition of residential house property for the first time where the loan is sanctioned between 1st April 2019 to 31st March 2022 & deduction should not have been claimed u/s 80EE

Deduction limit of
₹ 1,50,000
on the interest paid on loan taken

Note:

For claiming deduction under section 80EEA, below details needs to be provided in ITR
•   Stamp value of residential house property
•   Loan taken from bank / institution
•   Name of the bank / institution from which the loan is taken
•   Loan Account Number of the bank / institution
•   Date of sanction of loan
•   Total amount of loan
•   Loan outstanding as on last date of financial year
•   Interest u/s 80EEA

Please note that the deduction u/s 80EEA can be claimed only if the limit in section 24(b) is exhausted. Also, either 80EE or 80EEA can be claimed by taxpayer based on loan sanction date and other eligible conditions.

Section 80EEB

Deduction towards interest payments made on loan for purchase of Electric Vehicle where the loan is sanctioned between 1st April 2019 to 31st March 2023

Deduction limit of
₹ 1,50,000
on the interest paid on loan taken

Note:

For claiming deduction under section 80EEB,below details need to be provided in ITR
•   Loan taken from bank / institution
•   Name of the bank / institution from which the loan is taken
•   Loan Account Number of the bank / institution.
•   Date of sanction of loan
•   Total Amount of loan
•   Loan outstanding as on last date of financial year
•   Interest amount 80EEB
•   Vehicle registration Number.

Section 80G

Deduction towards Donations made to prescribed Funds, Charitable Institutions, etc.

Donation are eligible for deduction under the below categories

Without any limit

100% deduction

50% deduction

Subject to qualifying limit

100% deduction

50% deduction

Note: No deduction shall be allowed under this section in respect of donation made in cash exceeding ₹ 2000/-

Section 80GG

Deduction towards rent paid for house & applicable to only those who are self-employed or for whom HRA is not part of Salary

Least of the following shall be allowed as deduction

Rent paid reduced by 10% of Total Income before this deduction

₹ 5,000 per month

25% of Total Income (excluding long term capital gains, short term capital gains under section 111A or income under section 115A or 115D)

Note: For claiming deduction u/s 80GG, it is mandatory to file Form 10 BA and enter the (acknowledgement number.) of Form 10 BA in Schedule 80 GG while filing the return of Income

Section 80GGA

Deduction towards Donations made for Scientific Research or Rural Development

Donation are eligible for deduction under the below categories:

Research Association or University, College or other Institution for

Scientific Research
Social Science or Statistical Research

Association or Institution for

Rural Development
Conservation of Natural Resources or for Afforestation

PSU or Local Authority or an association or institution approved by the National Committee for carrying out any eligible project

Funds notified by Central Government for

Afforestation
Rural Development

National Urban Poverty Eradication Fund as setup and notified by Central Government

Note: No deduction shall be allowed under this Section in respect of donation made in cash exceeding ₹ 2000/- or if Gross Total Income includes income from Profit / Gains of Business / Profession

Section 80GGC

Deduction towards Donations made to Political Party or Electoral Trust

No deduction will be allowed if any contribution is made in cash

Section 80TTB

Deduction on interest received on deposits by Resident Senior Citizens

Deduction limit of
₹ 50,000/-

Section 80U

Deductions for a resident individual taxpayer with Disability

Flat ₹ 75,000 deduction for a person with Disability, irrespective of expense incurred

Flat ₹ 1,25,000 deduction for a person with Severe Disability (80% or more), irrespective of expense incurred

Please note:

For claiming deduction u/s 80U,below details needs to be provided.
•  Nature Of Disability
• Type of Disability
•  Amount of Deduction
•  Acknowledgement number of Form 10 IA filed in case of autism, cerebral palsy , or multiple disabilities.
•  UDID number (if available )

In addition to tax benefits applicable regardless of age of taxpayer, there are certain enhanced / additional benefits for Senior / Super Senior Citizen. The additional benefits are listed below:

Paper filing of Income Tax Return

Super Senior Citizens (aged 80 years or more) have the option to submit their ITR using Form 1 or 4 in offline / paper mode. The e-Filing option also remains available to them.

Relief from payment of Advance Tax

As per Section 208, Income Tax Act,1961 every person whose estimated tax liability for the year is ₹ 10,000 or more, shall pay his tax in advance, in the form of Advance Tax. But, Section 207, Income Tax Act,1961 gives relief from payment of Advance Tax to a Resident Senior Citizen. Thus, a Resident Senior Citizen, not having any Income from Business or Profession, is not liable to pay Advance Tax. So, 234B and 234C are not applicable for senior and super senior citizen filing ITR 1 and ITR 2.

Income tax deduction on interest on bank deposits

Section 80TTB of the Income Tax Act,1961 allows tax benefits on interest earned from deposits with banks, post office or co-operative banks. The deduction is allowed for a maximum interest income of up to ₹ 50,000 earned by the Senior Citizen. Both the interest earned on saving deposits and fixed deposits are eligible for deduction under this provision.

Also, u/s 194A of the Income Tax Act, 1961 no Tax is Deducted at Source (TDS) on interest payment of up to ₹ 50,000 by the bank, post office or co-operative bank to a Senior Citizen. This limit is to be computed for every bank individually.

Tax benefits with respect to medical insurance and expenditure

According to Section 80D of the Income Tax Act,1961 Senior Citizens may avail a higher deduction of up to ₹ 50,000 for payment of premium towards medical insurance policy. The limit is ₹ 25,000 in case of Non-Senior Citizens.

Further Section 80DDB of the Income Tax Act, 1961 allows tax deduction on expenses incurred by an individual on himself or a dependent towards the treatment of specific diseases as stated in the act. The maximum deduction amount in case of a senior citizen is ₹ 1 lakh (₹ 40,000 for Non-Senior Citizen taxpayers).