#FINCALC CALCULATOR HOW TO#

New Tax Slab Rates for age above 80 Years – Super Senior CitizensĪs seen in above new tax regime, there is no change even thought for people above 80 years of age. Let us now see tax slab rates based on new tax regime for super senior citizens. This is the benefit given to super senior citizens as they are living in their post retirement phase. Old Tax Slab Rates for age above 80 Years – Super Senior CitizensĪs can be seen above, 5% tax slab is not present for super senior citizens and they don’t have to pay income tax on income up to Rs. Tax Slab Rates for age above 80 Yearsīelow are the tax slab rates for super senior citizens of age above 80 years: Old Tax Regime INCOME Let us now check Tax Slab Rates for super senior citizens that belong to age above 80 years. New Tax Slab Rates for age between 60 Years to 79 Years – Senior CitizensĪs seen in above table, new tax regime slab rates are same compared to the new slab rates for people of age below 60 years ( non senior citizens).Īs mentioned earlier, no deductions or investments are allowed to be claimed with New Tax Regime here as well. Let us check New Tax Regime slab rates for senior citizens for age between 60 years to 79 years. This is the benefit given to senior citizens with Old Tax Regime as they enter into their retirement phase.īut as far as New Tax Regime is concerned, there is no such benefit to any age groups apart from reduced tax slab rates for all age groups. 2.5 Lacs when someone is less than 60 years of age.

Old Tax Slab Rates for age between 60 Years to 79 Years – Senior CitizensĪs seen above, for senior citizens of age between 60 years to 79 years, no tax is applicable for income up to Rs. Tax Slab Rates for age between 60 to 79 Yearsīelow are the tax slab rates for age between 60 years to 79 years based on Old and New Tax Regime: Old Tax Regime INCOME Let us now see the Tax slab rates for age between 60 to 79 years. We will check the income tax calculation examples in later sections of this article. You cannot claim deductions or investment amount in new tax regime, but you can do so in old tax regime to save income tax. New Tax Slab Rates for age less than 60 YearsĪs seen in above tables of Old and New Tax Slab rates, new tax regime are having reduced tax slab rates for various income brackets. Old Tax Slab Rates for age less than 60 Years Let us check the slab rates based on Age groups: Tax Slab Rates for age less than 60 Yearsīelow are the tax slab rates for majority of the salaried employees in India below 60 years of age: Old Tax Regime INCOME Let us now understand what are the different Tax Slab Rates in India.ĭifferent age groups have different tax slab rates for FY 2022-23.

#FINCALC CALCULATOR HOW TO#

What is Standard Deduction? How to claim it?Īs seen in above video, we can easily calculate income tax using excel calculator as well.What is the best method to calculate Income Tax?.

How much Tax do you pay on 10 Lakh Salary?.

How to Calculate Income Tax on Salary with Example – Video.

Income Tax Calculation Example – Age above 80 Years.

Income Tax Calculation Example – Age 60 to 79 Years.

Income Tax Calculation Example – Age 0 to 59 Years.

Old Tax Regime vs New Tax Regime Comparison – Video.

Tax Slab Rates for age between 60 to 79 Years.

Tax Slab Rates for age less than 60 Years.

Income Tax Calculation involves following steps:.

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