Latest income tax slab for super Senior citizens 2018
Budget 2018 will definitely help the senior citizen class.
As far as super senior citizens are concerned,they will also get the tax relaxation.
Already super senior class is tax free with having income upto 5 lakhs.
So they fall in 20% tax rate bracket.
At this juncture they needed some tax Rebate under different sections like section 80D,80DDB and others.
The Govt has really taken into consideration their demand and fulfilled it right away.
Now under 80DDB section they can avail upto 1 lakhs Rebate on treatment of specified diseases.
Similarly,instead of 10% TDS Deductionbanks now will not cut TDS on amount upto rs 50,000 earned in terms of saving bank interest or FD interest or post office saving account interest.
Finally,standard Deduction of 40,000 is also a benefit but it will be swallowed away by 4% education cess.
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