Benefit of income tax for senior citizen

POSTED BY Dr Ramesh Prasad ON June 24, 2013 11:33 pm COMMENTS (2)

Sir,

I had  attained the age of  60 years on 28/03/2013.And I retired from service on 31/03/2013.

Will I get benefit  in income tax for senior citizen for the financial year 2012-13 (assessment

year 2013-14)?

Please address my query.

Thanking you,

Yours sincerely,

R.Prasad.

2 replies on this article “Benefit of income tax for senior citizen”

  1. bemoneyaware says:

    According to Income Tax Act, 1961, those who on on last day of financial year (for 2012-13 is 31-Mar-2013) , have attained 60 years of age belong to the Senior citizen category. So you classify as Senior Citizen for FY 2012-13.
    Our article Senior Citizen : Income and Tax discusses in detail

  2. Dear R Prasad, yes is the answer. As you become Sr. Citizen in the FY 2012-2013, you are eligible for related benefits in that FY itself.

    Thanks

    Ashal

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