Senior Citizen Tax Calculator — Higher Exemptions & Benefits — FY 2026-27
Calculate income tax for Indian senior citizens (60-79) and super-senior citizens (80+) for FY 2026-27. Seniors enjoy higher basic exemption (₹3L / ₹5L), enhanced 80D cap (₹50K), higher TDS threshold on FD interest (₹50K vs ₹40K), and ITR-1 filing exemption for income from pension + interest only (no business income).
Compute your numbers → Income Tax Calculator
Use the full Income Tax Calculator for interactive computation with your exact inputs. This page covers the specific context + rules for your query intent.
Key rules at a glance
- Basic exemption ₹3L (senior 60-79)
- Basic exemption ₹5L (super-senior 80+)
- 80D ₹50K for self / ₹50K for senior parents (₹1L combined)
- Section 194A TDS threshold ₹50K (vs ₹40K for others)
- Section 80TTB ₹50K bank/FD interest deduction
Senior citizen tax slabs — old regime
Old regime (FY 2026-27): Senior (60-79) — 0-3L nil, 3-5L at 5%, 5-10L at 20%, above 10L at 30%. Super-senior (80+) — 0-5L nil, 5-10L at 20%, above 10L at 30%. 4% cess on tax. Section 87A rebate up to ₹12,500 for income ≤ ₹5L.
Senior citizen tax slabs — new regime
New regime applies UNIFORMLY to all ages — no age-based higher exemption. However, the new regime's base ₹4L exemption combined with ₹75K standard deduction + ₹25K 87A rebate effectively matches senior citizen benefits up to ₹7L income. Above ₹7L, old regime typically wins for seniors with high-interest-income profiles.
Section 80TTB — bank + FD interest deduction
Seniors (60+) under old regime get Section 80TTB deduction up to ₹50,000 on interest from: (a) savings account, (b) FDs, (c) RDs, (d) post office schemes. This is instead of 80TTA (₹10K cap) which applies to non-seniors. For a senior with ₹10L FD at 7% = ₹70K interest, ₹50K is deductible, only ₹20K is taxable.
Section 194A — FD TDS threshold
Banks deduct 10% TDS on FD interest if total cross-branch interest exceeds ₹50,000/year for seniors (vs ₹40,000 for non-seniors) per Section 194A. Submit Form 15H annually to skip TDS if total income is below basic exemption. Form 15H is specific to seniors; non-seniors use Form 15G.
Senior Citizen Tax Calculator — FAQ
What is the basic exemption for senior citizens FY 2026-27?
Old regime: Senior (60-79) = ₹3L, Super-senior (80+) = ₹5L. New regime: ₹4L for all ages (no age concession). Senior citizens usually prefer the old regime if they have significant interest income (via Section 80TTB + higher exemption combo).
What is Section 80TTB?
₹50,000 deduction for senior citizens (60+) on interest from savings accounts, FDs, RDs, and post office deposits under old regime. This replaces Section 80TTA (₹10K cap for non-seniors). Enhanced deduction acknowledges seniors' reliance on interest income.
Are seniors exempt from TDS on FD interest?
Not automatically. TDS @ 10% applies if annual FD interest across a single bank exceeds ₹50K (vs ₹40K for non-seniors). Submit Form 15H annually at your bank to skip TDS if total income is below the basic exemption (₹3L / ₹5L for super-senior).
Can a senior citizen file ITR-1?
Yes, if income is only from salary/pension + one house property + interest + agricultural ≤ ₹5K. For business/professional income or capital gains, use ITR-2 (seniors) or ITR-3 (business). ITR-1 is simpler — e-filing portal auto-fills from Form 16 / 26AS / AIS.
Is pension taxed differently for seniors?
No. Pension is taxed as "Salary" income at regular slabs (old or new). Family pension (from deceased employee's pension) is taxed under "Income from Other Sources" with a ₹15,000 deduction (or 1/3, whichever is lower) under Section 57(iia). Super-senior commuted pension is fully exempt under Section 10(10A).
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