calculation of age for benifit of senior citizen category

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  1. rl334709

    rl334709 New Member

    If, an individual completes his 60th year, in financial year 2014-2015(in December-2014), then :

    Que. 1: Can he avail the benifit of being senior citizen for financial year 2014-2015 ?

    QUE.2: What will be the exemption limit for him , for financial year 2014-2015?

    QUE.3: IF, his total income -tax payable is more than 10,000 for financial year 2014-2015 , then will he have to pay it as Advance tax ?
    Because senior citizen is not required to pay advance tax. But , as he has attained 60 years of age in current financial year itself, can he avail such beifit of not paying advance tax ?
  2. rudrabose

    rudrabose Active Member

    1. If a person becomes a senior citizen at any time during the year, he would be treated as a senior citizen for the whole year
    2. The basic exemption limit for senior citizens is Rs. 3,00,000
    3. He wont be required to pay Advance Tax as he would be treated as a senior citizen for the whole year
  3. rl334709

    rl334709 New Member

    thanks for ur guidance. THANKS.
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