This blog details the simplified tax relief measures, exemptions, and deductions for senior and super senior citizens in India, as outlined by the Income Tax Department. It covers key aspects of the Old and New Tax Regimes, specific deductions for pension and interest income, medical expenses, and relaxed ITR filing norms for Assessment Years 2025-26 and 2026-27, empowering retirees for better financial management.

Grasping the concept of standard deduction is essential for every salaried person in India. Following the recent updates in the Union Budget 2024, the framework for standard deduction has changed, particularly within the new tax framework. This comprehensive guide clarifies what standard deduction entails, the updated limits for both regimes, eligibility criteria, advantages, and practical illustrations.