What is the tax exemption for senior and super senior citizens in old and new tax regimes?
In the old tax regime, the basic tax exemption is based on the age of an individual. For senior citizens aged above 60 years but below 80 years, exemption limit is Rs 3 lakh. For super senior citizens aged above 80 years, exemption limit is Rs 5 lakh. In the new tax regime, the exemption is same for every individual, i.e., Rs 2.5 lakh irrespective of his/her age.