2024 Tax Brackets For Seniors Over 60. Taxpayers above 60 years and below 80 years of age are considered senior. Senior citizens (60 to 80 years) earning an annual income up to inr 3 lakh are exempted from paying tax under the old tax regime.
Seniors over age 65 may claim an additional standard deduction of $1,950 for single filers and $1,550 for joint filers. Section 194p of the income tax act, 1961 provides conditions for exempting senior citizens from filing income tax returns aged 75 years and above.
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