Senior Citizens Income Tax Slab Rates and Tax Calculation 2023-24 [Examples]

[@fincalc]

Senior Citizen Income Tax Slab & Tax Calculation kaisa laga? COMMENT KARO 👇👇 Income Tax Calculator Online: fincalc-blog.in/income-tax-calculator/ JOIN Telegram Group: t.me/fincalc_tv_channel

[@agmabms]

Sir, For senior Citizens tax under old rezime, you have not considered Rs.50,000 towards mediclaim under Section 80D and donation under Section 80G. If I donated to an orphanage registered under IT Act, for Rs.20,000/-, donation I get tax benefitvof Rs.10,000. Further if my net income after all deductions is less than Rs 5 lakhs, I am entitled to tax rebate of Rs.12,500/- or the tax calculated whichever is less.

[@tilakmehta4205]

NKlo

[@subramanimuniswamy5255]

Llllllllllllllllllllllllllllllllllllĺlllllll​@@tilakmehta4205

[@sureshchandramehta6345]

Knknoobk9!&b

[@kalpanagupta7983]

​@tilakmeht😅a4205

[@vidyasagargoparaju8125]

You have not taken tax reliefs on Medical insurance premium limited to ₹50,000 and medical expenses and also senior citizen savings of ₹1,50,000. Also you did not mention about exemption for tax return submission under section 197 of IT act. Can you piece explain

[@rosebudpk3920]

Your video was most useful sply explaining old vs new regime. Waiting to use the tax calculator online. Good effort made by you.

[@fincalc]

Glad it was helpful! You can use the calculator here: fincalc-blog.in/income-tax-calculator/

[@lmsharma1910]

Nice video. Samjhaney ka tarika shaandar hai. Sikhakar jagrook kartey rahiye.

[@rkzadoork7264]

Very nice Analysis .

[@vrkrishnakumar1]

Wonderful. I dont know Hindi but still your Hindi was very simple and easy to understand. Very good explanations. God Bless you 🙌 நன்றி

[@venkatakrishnan8653]

Excellent explanation for tax calculation.

[@fincalc]

Glad it was helpful!

[@HukamSingh-qh6pc]

God's bless you beta ji for sharing valuable information ❤😊🎉

[@fincalc]

thank you sir!!

[@mannarurangasahini.]

🎉🎉 Very simple method of IT calculation. But not disscus for fd and savings, deduction in ITR calculation.

[@mvr1950]

Excellent demonstration

[@fincalc]

Glad it was helpful!

[@ujjwalaraut7538]

Nicely explained in easy way.😊

[@fincalc]

thanks

[@ulhasarolkar]

Thanks for calculator...

[@fincalc]

welcome! please share with others

[@rameshbadhya4274]

Fine dhanyavadagalu

[@fincalc]

thank you!

[@must604]

Simple way of explaining.

[@dilipmankawade6328]

VERY NICELY EXPLAINED THANKS SIR

[@fincalc]

welcome

[@satishchanderseth3770]

Your way of explaining is nice

[@fincalc]

thanks

[@prasantachakraborty3497]

Excellent explanation. But you have not considered home loan interest exemptions in old tax regimes

[@AnilSingh-ps7tt]

Very good information.

[@fincalc]

Glad it was helpful!

[@BaljeetSingh-nm8hu]

Much better than Narender Modi's "chawanni chhap" lectures . Explaination was quite good, more depth is expected as Income Tax calculation is very difficult for normal man . In place of 80(GG) you have to mention about Section 10(13A). Your score is 8 out of 10. 💢 🌸⚽

[@ravinderbhat112]

Dear recalculate as per new rule of exemption of ₹7 lakhs.

[@mukundabc8769]

Good and precise calculations

[@fincalc]

Thanks and welcome

[@srmaurya]

Very useful. Thanks!!!!

[@fincalc]

Glad it was helpful!

[@rajisomnath5510]

Best description

[@fincalc]

thanks

[@harisinghbarhath3344]

शानदार प्रस्तुति

[@fincalc]

Dhanyavad

[@satyapaulkanjlia7346]

Very useful video. I am 84 year NRI Pensioner. Pension income range about 14 lakh. Pension,FD & sb interest only. What provisions apply/do not apply. Grateful for advice.

[@somakrajgupta5545]

Very helpful and detailed

[@fincalc]

thank you

[@rameshdeshpande4673]

Very very useful information

[@fincalc]

thank you!

[@vijaytikku9628]

Very useful video. Kindly also advice, if I have invested Rs. 4 lac in buying few shares in the F.Y. 2023-24, which are lying in my Demat a/c. Which ITR I have to fill eithe ITR-1 or ITR-2.

[@kamleshpanwar8102]

Excellent 👍

[@Jampana_shorts]

Under section 80 D, you can claim a deduction of up to Rs 75,000 (25,000 for self and Rs 50,000 for parents). But if you and your parents are both senior citizens, it can go up to Rs 1 lakh. Rs 50,000 for self and Rs 50,000 for Parents).

[@dulalkumachakravorty3980]

😅such video is very useful for senior citizens like us dkc kol. 115

[@fincalc]

thank you!

[@vijaytikku9628]

Very useful video. I am a government Pensioner. Kindly also advice, if I have invested Rs. 4 lac in buying few shares in the F.Y. 2023-24, which are lying in my Demat a/c. Which ITR I have to fill eithe ITR-1 or ITR-2.

[@garimella999]

VERY GOOD

[@fincalc]

thank you!

[@dsuryaprakash4768]

Thanks

[@ajaynigam135]

Very nice

[@umeshdaivagna4515]

Thank you😊

[@fincalc]

You're welcome 😊

[@anuragshukla6230]

Bhaiji, IPO selling ke baad kitna tax lagta hai aur ye tax kaise bharna hota hai ispar ek detailed session kijiye.

[@fincalc]

theek hai, stay tuned

[@aashiyanaansari9343]

Bas AAJ SAMAJH aaya ITR For pensioners BAHOT KHOOB SIR

[@sdmistry3666]

Check it slab in new tax regime for senior citizens and also when you take 80ttb deduction then interest income should be shown, it can't be zero

[@user-st9qj5jd1q]

👍👍👍

[@murthydsn8865]

Nowadays every information relating to cash deposits or purchase of immovable property or sale of immovabe properties are recorded in 26 As or AIS. Therefore it is better to disclose all sources of income, deposits etc to void penal consequences pl Jaisriram.

[@sunnytoms9416]

Beautiful

[@fincalc]

Thank you

[@vibhavaridalvi6630]

V.super,, but i want know pension other income means intrest to be add with toral income or to be shown diferent cloum or only txable income has to take for calculation

[@manojshahshah9467]

Good information sir ❤ me CG employee tha July 2023 me retired hua to kaise form fillup karenge pl batanaa I am senior citizen thanks ❤

[@surendrannair9947]

Kindly explain, what are the incomes under Sec 80C,80CCD and 80GG

[@fincalc]

Check this video kzbin.info/www/bejne/bmG2dGSmepKBrKMsi=ZDZFsB5spcYNwrMt

[@sureshkarande-e9i]

Best

[@pankajagrawal5670]

You have not considered/ explained rebates for medical insurance premiums u/s 80D.

[@omdahiya-we1vo]

Also please elaborate if a pensioner has income of pension,interest,dividend and short term capital gain

[@ajoydas3353]

Sir good presentation. In new regime, is sec 80C will be added in pension to find gross income? Kindly clarify. Thanx.

[@fincalc]

thank you! Section 80C is not available in new tax regime

[@govindammac.2955]

In Old tax regime Rs. 50000/- medical expenses not mentioned

[@manasdas4301]

Please explain if taxable income is 650000 for senior citizen under new tax regime

[@sushmitadutta2783]

Income tax for 25 - 30 l acs which includes capital gains tax also

[@P.S.R..]

For example mera account me 50000 hain..aur mai usko upi transfer ki jariye friend ko send kiya tho friend invest karke vo ulta 55000 karke send kia vaise hi baar bar friend ko send kiya aur 5000 faida aneka badha muje send kiya tho firse invest ..aur total financial year starting me balance 50000 tha aur financial year ending ending me 250000 hua ek financial year me tho iska itr file karna hai kya ..????

[@adhinarayanan380]

Thank you so much sir! Very well explained. When i calculated the tax likability for my father for the financial year 2023-2024 under the new regime, who is a super senior citizen pensioner with a gross annual income of Rs 12 lakhs, the calculator in your website computes the tax to Rs. 85,800 but the tax calculator in the official income tax website computes it to Rs, 90,000 plus 4% cess of Rs.3600 and the total payable tax calculates to 93,600. can u please clarify or make a video for tax calculation for super senior citizens with 5 lakhs exemption limit? Thank you so much for your educational videos.

[@fincalc]

Welcome! On my website you must have selected "Pensioner" option which includes Rs. 50,000 as standard deduction for senior citizens based on which tax is Rs. 85,800 on 12 lakh income with new regime.. on official tax calculator this deduction is not included by default that's why Rs. 93,600 is shown as tax. Rs. 85,800 tax is correct with standard deduction and Rs. 93,600 tax is correct without standard deduction. If your father is not pensioner than select "Business" option to match the tax with official tax calculator. Hope it helps!

[@adhinarayanan380]

Thankyou so much Sir for your prompt and detailed reply. Now I understand. Yes my father is a Tamilnadu state government pensioner. As per your guidelines when I entered Rs. 1150000 in the field titled "Income from Salary (After eligible exemptions and deductions u/s 16 as per selected regime) the tax payable exactly tallies with the figure calculated in your website. Thank you so much.@@fincalc

[@fincalc]

@@adhinarayanan380 great. welcome!

[@InvestwithFun]

I am Senior Citizen my Anual Income is 4.50 lakh under Old Tax Regime., do i have to file TAX ?? or is it ok not to fil TAX as i am not under any tax deduction slab ( as upto 5Lack i have rebate)

[@RavishBK]

Sir,what about tax rebate for physically handicapped persons

[@manabendrabanerjee304]

❤ What about medicaid where the rebate is upto ₹ 50,000/-. Some details wanted please. Thanks.

[@ramachandranps4229]

I am super sr pensioner with annual pension is around 7:80..lakhs and no other income except intrest on FD in bank - total intrest on FD also around 15 thousand p annum - shall I have to file return? Under which slab I Come? Which is beneficial ? I don't have any investments other than FD out of pension under multiple option deposit every month -- kindly explain such cases as examples - thanks

[@kennethkonda8764]

Can we switch to newer regime from old one or vice versa year to year ?

[@fincalc]

yes probably, option is given while filing ITR

[@cvraocvrao1428]

Sir if some body pension and intt income together crosses 13 lacs for rs citizen under 80 years what would be the tax after TDs 70000/- already deducted.

[@slalitha4959]

Is there any rebate for Donation under section 80G under New Tax regime

[@fincalc]

not in new tax regime

[@nalinirao1389]

For senior citizens who have pension and Fd interest which one will be benefited new or old pl tell me ,i am 73 years old

[@fincalc]

it depends on your total income and investments. please use the tax calculator to decide same: fincalc-blog.in/income-tax-calculator/

[@narendrasadarani912]

what about interest income on FD over and above pension income ?

[@krishankumartyagi1874]

Rebate on Medical expenses or Insurance not included.

[@monaghate4096]

Rs 5000 preventive medical चेकअप for senior citizens, not taken into account for deduction in old regime. Please clarify.

[@murthydsn8865]

DEDUCTIONS u/S 80-D or 80 DD can be claimed only if the expenditure is actually incurred. It is not automatic for any one. Jaisriram.

[@monaghate4096]

Rs50000, for medical expenses and premium for medical insurance upto 25000 applicable है ना old regime में?

[@satishchanderseth3770]

In OLD TAX REGIME the Slab Rates should be 5. Per Cent, Ten Per Cent and 15. Per cent for Senior citizens. Senior citizens should be given some relief.

[@fincalc]

yes you are right

[@subirkumarbiswas2083]

You did not mention whether medical insurance is exempted or not in tax calculation in old and new regime. Pl clarify.

[@rajendrabhatt3858]

😂Very help ful😂

[@seethiseeth9737]

Is Sec.80TTB aplicable to senior citizens in new regeme?🎉

[@narenderdhanna5044]

Sir, Mera post office fd per tds kata hai per vah 26as me nahi reflect kar raha Kya mai tds ka refund claim kar sakta hu without 26as ke Regards

[@pradimanpk]

Nsc aur kisan vikas ki maturity per tax kaisey lagta hai

[@arvindbhaishah7476]

Share income , dividend income , intrest income

[@ravinanda4123]

I am getting 36000 as Old Age Pension per year and my Capital gain Tax from mutual fund is 750000. How much tax i will have to pay. I am senior citizen of 71 years old. Please advise

[@satyanarayankamath3634]

I am aged 80+years I am doing shares purchase & selling tell me how to calculate my income Tex 🙏 Jai shree Ram 🙏 I am ex defence person 🙏🇳🇪🙏

[@sarmauppuluri1373]

U left out 80 d medical deductions please update your calculations

[@fincalc]

yes there are multiple deductions to be considered while calculating tax with old tax regime please use the income tax calculator here: fincalc-blog.in/income-tax-calculator/

[@shambhunathbayen-iv1fb]

If I extended amount under scss, can I get rebate under sec80c?

[@fincalc]

yes SCSS deposits can be claimed under section 80C watch this video for SCSS calculation: kzbin.info/www/bejne/sKG9ZqSMoLN4kJo

[@prajapatinikul2650]

Mera ek question hain aspko Kisi senior cityzen ne senior citizen saving scheam main 30 Lakh invest liye hain or interest ki sala na income karib 2,42,000 hoti hain to kya wo income tax k dayre main aate hain ?

[@assam775]

Pata nhi

[@fincalc]

Ha senior citizen saving scheme ka interest taxable hota hai aapke slab rate ke hisab se tax lagega

[@premsharma2290]

New system intt on ppf is non taxable?

[@fincalc]

yes ppf interest in non taxable

[@imawesome9412]

Hi bro agar package 6 to 6.5 hai toh new tax regime se exemption kaise save kar sakte hai

[@fincalc]

New tax regime ke hisab se 7 lakh Tak koi tax nahi hai.. tax rebate 87a use karke Calculator use Karo: fincalc-blog.in/income-tax-calculator/

[@satishgupta5245]

If I opt for new regime this time, then can I switch to the old regime again for the next year. Or Is it possible to switch any time to the old regime and new regime and vice versa. Plz confirm.

[@fincalc]

Yes possible

[@laljimishra2031]

What will be incometax to be paid for income of 932000/- under new tax Regime Pl reply soon

[@fincalc]

please use income tax calculator: link: fincalc-blog.in/income-tax-calculator/

[@amitkurani9681]

Medical deduction plus 5000 regular check deduction not taken

[@anupkumarkundu8518]

If my pension income is less than 50000 then how much will be my standard deduction?

[@rajeshsinha901]

Kya pensioner bhi HRA total income se minush (-) kr sakta hai

[@fincalc]

yes

[@anshurawat6305]

But from where u r getting HRA being pensioner?

[@AshokKashyap48]

If any one is not salaried or pensioner. She is a housewife and her income from FD & saving interest. What to do.

[@jp-bu3ql]

bhai trader ko house loan kese mil shkti hai plz make video

[@arvindbhaishah7476]

Yaar ek baat samaj nahi aa rahi , senior citizen hoo aur interst income , dividend income ho , share bazar se incom ho to kaise calculate hoga , stcg ltcg kaise taxable hoga

[@fincalc]

stcg aur ltcg separately calculate hota hai.. irrespective of income on which income tax is calculated based on slab rates

[@milindwadalkar7143]

What about housing loan interest??? And if senior citizens is ledie??

[@rajnikantpatel730]

Standard didc. Is ₹.52500 in new regim in buget is true?

[@obulapathyvanganur7154]

Poppy seeds size letters cannot be read. Enlarge the size and understand the contents of your letter.

[@kusvkotagikotagi5892]

Sir last year ITR not finalised due not knowing how to match 10 E kindly help to resolve my ITR with IT experts at Bangalore kindly provide address tq

[@sharmabm7521]

How to calculate tax of super senior citizen of the same dedu tion plus one deduction of rs 50000 medical insurance premium

[@fincalc]

please use income tax calculator: fincalc-blog.in/income-tax-calculator/

[@SamirRanjanDas-cz8kd]

I am 81 yrs My income only bank interest which is less than 1 lac May I have to link Pan with Aadhar card ?

[@saraswathynair4870]

Medical allowance deduction available or not

[@prakashnag4339]

Where I have to claim deduction of interest for mortgage loan taken for home and how?

[@fincalc]

under section 80C and section 24. watch this video: kzbin.info/www/bejne/i6Gbf6meit6Al9k

[@SipraMajumdar-c9l]

up advocate hain 80years filing vi karne parega 500 rs dene parega😮

[@NazirKhan-vc7xm]

Cataract operation me kitna deductions hai

[@PANKAJSHAH-nn8rb]

I have retired in Sept-23 ,what will be my identity i .e pensioner or regular employee.

[@fincalc]

If you get pension than pensioner