 "Realtors see massive opportunity in India's growing elderly population")
Income tax laws in India have been framed so as to provide senior citizens with the maximum possible income tax benefits. Some significant benefits available to senior citizens (above 60 years of age) and super senior citizens (above 80 years of age) have been discussed in this article.
Higher basic threshold limit
First and foremost, resident senior citizens and resident super senior citizens enjoy a higher basic threshold limit of Rs 3 lakhs and Rs 5 lakhs respectively. This otherwise means income up to this limit is completely tax-free. Further, these taxpayers are also exempted from filing their income tax
