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Daily Equity - FY27 Income Tax Rules For Senior Citizens: What's New And What's Not

FY27 Income Tax Rules For Senior Citizens: What’s New And What’s Not

Senior citizens enjoy higher exemption limits and deductions under the previous tax regime. Retirees are still eligible for deductions under a number of sections even though the new system standardises limits. Form No. 125, which exempts eligible seniors from income tax returns, makes filing easier.