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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.
Wiki User
∙ 11y ago
Wiki User
∙ 11y agoAny person if he is more than 60 years is considered as Senior Citizen for Income tax purpose in India.
Income upto Rs 2,50,000 is exempt from Income Tax for Senior Citizens.
Wiki User
∙ 15y agoIt is not term relevant to income tax.
Wiki User
∙ 12y agoBetween 60 years to 80 years
Wiki User
∙ 12y ago65
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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.
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 taxpayers have to pay property taxes after age sixty five?
Yes, property owners who are aged 65 and older are required to pay property taxes. However, many states set limits on the amount of property taxes that senior citizens (generally defined and 65 and over) pay. Such limitations are typically called senior citizen tax abatement or senior citizen tax relief. In some states, the amount of abatement or relief depends on household income and the valuation of all assets other than your principla residence. Because property tax laws vary from state to state, you should contact your local assessor or tax collector about tax relief for senior citizens in your community.
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.
Are foreign embassy employees with income wages required to fiel income tax returns?
If a foreign embassy employee is a us citizen or a green card holder he has to file income tax return. If he is a us citizen he will pay both income tax and social security taxes . If he is a green card holder he is not required to pay social security taxes but he is required to pay income tax.
How many senior citizens pay income tax?
65%
