maximum exemption that a senior citizen can claim under 80c

Question

Accepted Answer

The maximum exemption that a senior citizen can claim under 80C is Rs. 1.5 lakh.

Senior citizens can claim deductions up to Rs. 1.5 lakh under section 80C of the Income Tax Act.
This deduction can be claimed for investments in various instruments such as PPF, NSC, tax-saving FDs, etc.
Apart from section 80C, senior citizens can also claim deductions under section 80D for health insurance premiums.
The maximum deduction under section 80D is Rs. 50,000 for senior citizens.
Senior citizens can also claim deductions for medical expenses under section 80DDB.
The maximum deduction under section 80DDB is Rs. 1 lakh for senior citizens.

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