Standard Tax Deduction 2024 For Seniors Under 80c. Deduction under section 80c of the income tax act 1961, allows taxpayers to reduce their taxable income by making specific investments or incurring certain. The finance act 2024 marks another step to make the ntr as the preferred option for the taxpayers.
Section 194p of the income tax act, 1961 provides conditions for exempting senior citizens from filing income tax returns aged 75 years. Discover how 80c deductions can help you.