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65 years old till 31.03.2012
Budget 2012 has made changes in age of Senior Citizen.
Now, Any person if he is more than 60 years is considered as Senior Citizen for Income tax purpose in India.
Relevant tax rates applicable for senior citizen is given here.
http://taxgyan.in/senior-citizen-income-tax-rates-and-age/
Income upto Rs 2,50,000 is exempt from Income Tax for Senior Citizens.
What else can I help you with?
At what age a widowed senior citizen gets benefits of maximum standard deduction in Pennsylvania income tax laws?
at what age does a widdow become a senior cirizine
What is the senior citizen age at Kohls?
whet is the age limit for women to consider as senior citizen to avail benefitswhat are all the benefits she can avail travel, bank deposit, tax exemption etc.,
Do senior citizens in India pay income tax on the saving accounts in bank?
It Depends. The interest earned from a savings account is considered as income for tax purposes. So the net interest earned in a year (along with the pension and other earnings) of the senior citizen is less than Rs. 2,40,000/- then they do not need to pay any tax on it. If the interest earned and all other incomes for the senior citizen is greater than Rs. 2.4 lakhs then he/she has to pay income tax on the same.
When seventy years old do you still pay Taxes years old?
No as a senior citizen I am exempted from paying Income tax. The above answer is NOT correct. Corrected answer below 07/09/2010 YES. Age is NOT one of the requirements of when a person MUST FILE A INCOME TAX RETURN. When you have the amount of taxable income for your filing status to meet the MUST FILE A INCOME TAX RETURN you can be any age as long as you are still breathing you will be required to file your 1040 income tax return correctly and pay the amount of income TAX that may be due on all of your gross taxable worldwide income.
Does a us citizen receiving dutch old age pension income treat the income as social security income for tax purposes?
No. It would be treated as a normal pension payment.
Do you pay property taxes at age 70?
Yes, unless you qualify for elderly or senior citizen real estate tax relief provided by some states. Each state in the United States has different tax laws concerning elderly or senior citizen tax relief. Most have household income and asset ceilings that if you go over them, regardless of your age, you do not qualify. Check with your local assessor or tax collector.
How many senior citizens pay income tax?
The number of senior citizens paying income tax can vary depending on their income levels and sources. Generally, senior citizens with income above a certain threshold are required to pay income tax on their earnings from pensions, investments, and other sources. It's best to consult tax data from the relevant government agency for specific statistics.
Do senior citizens need to file income tax?
Senior citizens, infants, children, and middle-aged people all need to file income tax if they meet certain requirements. There are no age limits. To determine if you are required to file a federal income tax form, see Tables 1, 2, and 3 on pages 2, 3, and 4 of Publication 501: http://www.irs.gov/pub/irs-pdf/p501.pdf State income tax requirements are different than federal. You should consult the instructions that come with your state tax forms or you might be able to find the information on your state tax department's web site. Even if you are retired, you might have some taxable income. Pension payments, 401k distributions, IRA distributions, interest from the bank, investment income, rent income are all taxable. If your income is above a certain level, Social Security payments are taxable. Even if you are not REQUIRED to file, if you had tax taken out of your salary, pension, Social Security, or other payments, you should file in order to get a refund.
Are senior citzens exempted from paying income tax?
In some countries, seniors may qualify for certain tax exemptions or deductions, but generally, seniors are not automatically exempt from paying income tax. The tax rules may vary based on the individual's income level, sources of income, and age. It is best to consult a tax advisor or the local tax authority for specific information regarding tax obligations for seniors in a particular country.
Does federal income tax apply to soveregn citizen that does not work for them and is not a federal citizen?
HjfjfnfnrnrheuurhrbffnfnjfjfjrnrnYes i agree
Does a 9 year old have to file income tax?
If they have sufficient income, yes. Age is not a factor in determining filing requirements (except for some senior citizens). The parents should help them, of course.
What age do you no longer owe income tax?
Age is not a factor. If you have income then it is taxed.
