2024 Gift Tax Limit For Senior Citizens. Under this new tax regime, there is no higher tax exemption limit for senior citizens (between the age of 60 and 80) or for super senior citizens (above the age of. The current limit for standard.
Some of the changes that senior citizens can expect from the budget 2024 are mentioned below: Section 194p of the income tax act provides for exempting senior citizens from filing income tax returns aged 75 years and above, subject to certain specified.