Income Tax Slabs For Senior Citizens News

Income Tax Slabs Union Budget 2025 For Senior Citizens: Finance Minister Nirmala Sitharaman stated that the limit for tax deduction on interest for senior citizens is being doubled from the present Rs 50,000 to Rs 1 lakh. This revision aims to provide greater relief to depositors by reducing the tax deducted at source on interest income, thereby ensuring higher take-home earnings for individuals, especially senior citizens and small depositors.