1) Sir, I am a Super Senior citizen 81years aged I have heard that for 2023-24 year for 5 lakhs to 7 lakhs income I T is 20% in excess of net income of 5 lakhs under old tax regime. Is this position correct 2) whether under this scheme deductions such as Std dedcn, 50,000 Disability rebate ,75,000 health ins premium i 20,000 is available . Requet you kindly to clarify @ the earliest
Ans: Dear Mr. Mugalur
The slab rate under the old tax regime for super senior citizen has not been changed and remain at 20% for income in the range of Rs. 5 Lakhs above to Rs. 10 Lakhs.
In case you are opting for the old tax regime all deductions that were available earlier are still available to you but that would not be the case if you opt for the new tax regime, where the deductions stated by you will not be available