New Tax Regime for Senior Citizens above 60 years | IncomeTax

These are the new IncomeTax slabs for the financial year 2021 to 2022 (From April 1st 2021 to March 31st 2022). There are 2 types of New Tax Regime slabs. They are as follows

  • Residents above 60 years of age but less than 80 years of age
  • Residents above 80 years of age (Super Senior Citizens)

The below tax slab is for Residents above 60 years. New Tax Regime doesn’t differentiate between Senior Citizens & Super Senior Citizens. The tax rate is same for all the residents irrespective of the age.

New Regime Tax SlabTax PercentageTax in Rupees
0 to 2,50,000 NIL0
2,50,001 – 5,00,0005%5% of Total Income exceeding 2,50,000
5,00,001 – 7,50,00010%Rs.12500 + 10% of Total Income exceeding 5,00,000
7,50,001 – 10,00,00015%Rs.37500 + 15% of Total Income exceeding 7,50,000
10,00,001 – 12,50,00020%Rs.75000 + 20% of Total Income exceeding 10,00,000
12,50,001-15,00,00025%Rs.125000 + 25% of Total Income exceeding 12,50,000
above 15,00,00030%Rs.187500 + 30% of Total Income exceeding 15,00,000

Rebate of nearly 12500 is available under both tax regimes. So any resident earning less than 5 Lakh need not pay any Income tax.


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