Sir, For senior Citizens tax under old rezime, you have not considered Rs.50,000 towards mediclaim under Section 80D and donation under Section 80G. If I donated to an orphanage registered under IT Act, for Rs.20,000/-, donation I get tax benefitvof Rs.10,000. Further if my net income after all deductions is less than Rs 5 lakhs, I am entitled to tax rebate of Rs.12,500/- or the tax calculated whichever is less.
You have not taken tax reliefs on Medical insurance premium limited to ₹50,000 and medical expenses and also senior citizen savings of ₹1,50,000. Also you did not mention about exemption for tax return submission under section 197 of IT act. Can you piece explain
Sir if some body pension and intt income together crosses 13 lacs for rs citizen under 80 years what would be the tax after TDs 70000/- already deducted.
For example mera account me 50000 hain..aur mai usko upi transfer ki jariye friend ko send kiya tho friend invest karke vo ulta 55000 karke send kia vaise hi baar bar friend ko send kiya aur 5000 faida aneka badha muje send kiya tho firse invest ..aur total financial year starting me balance 50000 tha aur financial year ending ending me 250000 hua ek financial year me tho iska itr file karna hai kya ..????
I am getting 36000 as Old Age Pension per year and my Capital gain Tax from mutual fund is 750000. How much tax i will have to pay. I am senior citizen of 71 years old. Please advise
Much better than Narender Modi's "chawanni chhap" lectures . Explaination was quite good, more depth is expected as Income Tax calculation is very difficult for normal man . In place of 80(GG) you have to mention about Section 10(13A). Your score is 8 out of 10. 💢 🌸⚽
Nowadays every information relating to cash deposits or purchase of immovable property or sale of immovabe properties are recorded in 26 As or AIS. Therefore it is better to disclose all sources of income, deposits etc to void penal consequences pl Jaisriram.
If I opt for new regime this time, then can I switch to the old regime again for the next year. Or Is it possible to switch any time to the old regime and new regime and vice versa. Plz confirm.
yes SCSS deposits can be claimed under section 80C watch this video for SCSS calculation: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-zpZ5qVkNEZ8.html
yes there are multiple deductions to be considered while calculating tax with old tax regime please use the income tax calculator here: fincalc-blog.in/income-tax-calculator/
Under section 80 D, you can claim a deduction of up to Rs 75,000 (25,000 for self and Rs 50,000 for parents). But if you and your parents are both senior citizens, it can go up to Rs 1 lakh. Rs 50,000 for self and Rs 50,000 for Parents).
I am super sr pensioner with annual pension is around 7:80..lakhs and no other income except intrest on FD in bank - total intrest on FD also around 15 thousand p annum - shall I have to file return? Under which slab I Come? Which is beneficial ? I don't have any investments other than FD out of pension under multiple option deposit every month -- kindly explain such cases as examples - thanks
Very useful video. Kindly also advice, if I have invested Rs. 4 lac in buying few shares in the F.Y. 2023-24, which are lying in my Demat a/c. Which ITR I have to fill eithe ITR-1 or ITR-2.
Mera ek question hain aspko Kisi senior cityzen ne senior citizen saving scheam main 30 Lakh invest liye hain or interest ki sala na income karib 2,42,000 hoti hain to kya wo income tax k dayre main aate hain ?
I am Senior Citizen my Anual Income is 4.50 lakh under Old Tax Regime., do i have to file TAX ?? or is it ok not to fil TAX as i am not under any tax deduction slab ( as upto 5Lack i have rebate)
iam at 64 years. iam not getting any amounts from any where.now I have invested in share market in stocks.can you give us the amount to be paid if i have earned 7lacks.
V.super,, but i want know pension other income means intrest to be add with toral income or to be shown diferent cloum or only txable income has to take for calculation
Very useful video. I am a government Pensioner. Kindly also advice, if I have invested Rs. 4 lac in buying few shares in the F.Y. 2023-24, which are lying in my Demat a/c. Which ITR I have to fill eithe ITR-1 or ITR-2.
Very useful video. I am 84 year NRI Pensioner. Pension income range about 14 lakh. Pension,FD & sb interest only. What provisions apply/do not apply. Grateful for advice.
In OLD TAX REGIME the Slab Rates should be 5. Per Cent, Ten Per Cent and 15. Per cent for Senior citizens. Senior citizens should be given some relief.
Sir, For senior Citizens tax under old rezime, you have not considered Rs.50,000 towards mediclaim under Section 80D and donation under Section 80G. If I donated to an orphanage registered under IT Act, for Rs.20,000/-, donation I get tax benefitvof Rs.10,000. Further if my net income after all deductions is less than Rs 5 lakhs, I am entitled to tax rebate of Rs.12,500/- or the tax calculated whichever is less.Sir, For senior Citizens tax under old rezime, you have not considered Rs.50,000 towards mediclaim under Section 80D and donation under Section 80G. If I donated to an orphanage registered under IT Act, for Rs.20,000/-, donation I get tax benefitvof Rs.10,000. Further if my net income after all deductions is less than Rs 5 lakhs, I am entitled to tax rebate of Rs.12,500/- or the tax calculated whichever is less.
![Senior Citizens Income Tax Slab Rates and Tax Calculation 2023-24 [Examples]](/img/logo.svg){kind=logo}
