The basic exemption limit depends upon the age and income of the taxpayer. Basic exemption limit under old tax regime: For individuals below the age of 60 years: INR 2.5lakh, For senior citizens between the age of 60 years and 80 years: INR 3 lakh, For super senior citizens above the age of 80 years: INR 5 lakh. In case of new tax regime, the basic exemption limit is INR 3 lakh.