POSTED BY June 24, 2013 11:33 pm COMMENTS (2)ON
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
Please address my query.
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2 replies on this article “Benefit of income tax for senior citizen”
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
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.