💰 Tax Savings · Special-status benefits
Senior citizen (60+) tax benefits — the complete list
✍️ EaseValue Advisors · Updated 17 Jul 2026 · FY 2025-26
In short
A resident senior citizen (60+) gets several extra breaks — a higher basic exemption (old regime), a ₹50,000 interest deduction (Section 153, old 80TTB), bigger health/illness deductions, and no advance tax if there's no business income.
The benefits
- Higher basic exemption (old regime): ₹3,00,000 (vs ₹2.5L). In the new regime the ₹12 lakh rebate applies to everyone.
- Interest deduction — Section 153 (old 80TTB): up to ₹50,000 on bank/post-office/deposit interest (far more than the ₹10,000 under 80TTA for others).
- Health insurance — Section 126 (old 80D): up to ₹50,000 (vs ₹25,000), and medical spend allowed if uninsured.
- Serious illness — Section 128 (old 80DDB): up to ₹1,00,000.
- No advance tax if you have no business/professional income — pay by self-assessment instead.
- Form 15H to stop TDS on interest where income is below the taxable limit.
Who it helps
Every resident aged 60–79. Compare regimes each year — with the ₹50,000 interest deduction and 80D, the old regime often wins for retirees living on interest. See old vs new regime.
The law behind it
Section 153 (old 80TTB) Section 126 (old 80D) Section 128 (old 80DDB)
General information for FY 2025-26 (AY 2026-27), not advice on your specific case. Limits, rates and conditions
change with each Finance Act and depend on your facts — confirm before acting. © EaseValue Advisors LLP.
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