age tax for seniors
Budget 2012, have reduced age of senior citizens for various provisions from 65 to 60 years. Income tax Rates for Senior Citizens (60â80 years). FY 2012-2013 TAX RATE. Upto Rs.2.50 lakhs NIL. From Rs.2.50 to 5 lakhs 10%. From Rs.5 to 10 lakhs 20%. Rs.10 lakhs and above 30%. For Very Senior Citizens (80 years and above).