SENIOR CITIZEN INCOME TAX CALCULATION AY 2026-27 करने का तरीका बदला !

Описание: SENIOR CITIZEN INCOME TAX CALCULATION AY 2026-27 करने का तरीका बदला !
#incometaxreturn
Summary
The video, by CA Satbir Singh, discusses the revised method for calculating Income Tax for Senior Citizens for the upcoming Assessment Year 2026-27 (Financial Year 2025-26) [00:00].

Key Points Covered:

Senior Citizen Definition: A resident individual aged 60 years or more at any time up to March 31, 2026, is considered a Senior Citizen, while an individual aged 80 years or more is a Super Senior Citizen [00:22].

Regime Applicability: The tax benefits for Senior/Super Senior Citizens are only available under the Old Tax Regime. The New Tax Regime applies the same tax rates for all individuals [00:44].

Resident Senior Citizen Example: Using the New Tax Regime and an income of ₹12,00,000, the calculated tax is ₹60,000 [01:43]. However, the video highlights that if the total income is up to ₹10,00,000 under the New Regime, the taxpayer is eligible for a tax rebate, resulting in zero tax liability [01:50].

Non-Resident Indian (NRI) Senior Citizen: The rules differ for NRIs [02:01]. For an NRI with the same income of ₹12,00,000, the calculated tax of ₹60,000 is subject to a 4% Education Cess, resulting in a total tax of ₹62,400 [02:53].

No Rebate for NRIs: NRIs are not eligible for the tax rebate under Section 87A [03:02].

Compliance: NRIs must ensure they pay their Advance Tax in four timely installments by March 31st to avoid interest penalties [03:07].

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