Tax Relief to Senior Citizens of age 70 by exemptions ceiling to 25 lakhs – No plan under consideration at present: Clarification by FinMin
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
LOK SABHA
STARRED QUESTION NO. *345
TO BE ANSWERED ON MONDAY, AUGUST 18, 2025/SRAVANA 27, 1947 (SAKA)
TAX RELIEF TO SENIOR CITIZENS
*345. Shri T R Baalu:
Will the Minister of FINANCE be pleased to state:
(a) whether the Government has any plans to grant further tax reliefs to the senior citizens of age 70 and above by enhancing the income-tax exemptions ceiling to Rs. 25 lakhs;
(b) if so, the details thereof and if not, the reasons therefor; and
(c) the details of income-tax collected from senior citizens above 70 years during the last five years?
ANSWER
THE FINANCE MINISTER
(SMT. NIRMALA SITHARAMAN)
(a) to (c): A statement is laid on the Table of the House.
*****
Statement referred in reply to parts (a) to (c) of Lok Sabha Starred Question No. *345 to be answered on 18.08.2025 regarding Tax Relief to Senior Citizens by Shri T R Baalu:
(a) No. There is no such plan under consideration at present.
(b) Under the Income-tax Act, 1961, a number of reliefs have already been provided to the senior citizens. It is the stated policy of the Government to reduce the tax rates while removing exemptions and deductions. Accordingly, new tax regime with liberal slabs, lower rates and higher rebates has been put in place effective from previous year starting from 1.4.2025. Further, any matter relating to tax rates or relief is decided during regular budgetary exercise and outcome of same is reflected in the respective Finance Act.
(c) The details of income-tax collected from senior citizens above 70 years during the last five years are as under:
| Sl. No. | Assessment Year (A.Y.) | Tax Collected (in Rs. Crores) |
| 1. | 2020-21 | 25,969.63 |
| 2. | 2021-22 | 28,090.77 |
| 3. | 2022-23 | 39,537.42 |
| 4. | 2023-24 | 48,152.79 |
| 5. | 2024-25 | 61,624.23 |
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