Clarification - treatment of age for senior citizen

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..... Clarification - treatment of age for senior citizen
Query (Issue) Started By: - HARSHA JOSHI Dated:- 30-12-2008 Last Reply Date:- 24-1-2009 Income Tax
Got 3 Replies
Income Tax
When to treat the person as Senior Citizen? On Completion of the age of 65 years or on attaining the age of 65 years i.e. on completion of 64 years during the previous year so as to pay tax on taxable income exc .....

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..... eeding Rs.225,000/-. kindly clarify the issue. Reply By Surender Gupta: The Reply: In schedule first of the Finance Act, 2008 (similar to previous Finance Acts) there is no word like "senior citizen". It states as : "In the case of every individual, being a resident in India, who is of the age of sixty-five years or more at any time during the previous year,-". Therefore, this phrase is sufficie .....

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..... nt to solve your query. Reply By DEV KUMAR KOTHARI: The Reply: In relevant FA's and also in sections like 88B words used are "who is of the age of sixty-five years or more at any time during the previous year". Therefore,the person must have completed 65 years at any time during the PY. Even if he completes 65 years on 31st March of the PY he will be eligible. Before completion of 65 years his a .....

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..... ge will be less than 65 years say 64 years 11 months and 30 days. On the next day only he can say that he is of age of 65 years. Reply By loknath seshadri: The Reply: In my opinion since the section speaks of attaining the age of 65, it is not required the age to be completed 65. Generally age is referred the completed yearlike the year is over it is said as 1 year old. Since the section provides .....

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..... the attainment of age it is sufficient if the assessee steps into 65 during the previous year for the relevant Asst year.
Discussion Forum - Knowledge Sharing .....

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