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When senior citizen age reaches 80 yrs what is the impact on his tax?
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No best answer has yet been selected by priyalisharma. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.If you are asking about the UK, the answer is no- the tax allowance increases at age 65 but doesn't change again at 80.
However the state pension can change
http:// www.nid irect.g ov.uk/i ndex/in formati on-and- service s/pensi ons-and -retire ment-pl anning/ pension s-and-r etireme nt/stat e-pensi on/extr a-pensi on-enti tlement /the-ov er-80-p ension. htm
However the state pension can change
http://
Note that these allowances are being "modified" (i.e. eventually scrapped):
From 2013-14, the availability of the "age-related" income tax personal allowances will be restricted. The allowance of £10,500 for 2012-13, available to people aged 65 to 74 will be restricted to people born after 5 April 1938 but before 6 April 1948. The allowance of £10,660 for 2012-13, available to people aged 75 and over will be restricted to people born before 6 April 1938.
From 2013-14, the amounts of these allowances will not be increased.
From 2013-14, the availability of the "age-related" income tax personal allowances will be restricted. The allowance of £10,500 for 2012-13, available to people aged 65 to 74 will be restricted to people born after 5 April 1938 but before 6 April 1948. The allowance of £10,660 for 2012-13, available to people aged 75 and over will be restricted to people born before 6 April 1938.
From 2013-14, the amounts of these allowances will not be increased.
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I'm puzzled as to why this site seems to be attracting quite a few new members posting /answering questions about income tax forms and allowances in India.
This site seems to show the rates
http:// www.ind iantaxu pdates. com/201 2/12/26 /income -tax-gu ide-cum -planni ng-for- individ ual-ass esse/
This site seems to show the rates
http://