Answer

1. F

   Facts

   Senior citizens have specific IT Act provisions that differ from general taxpayers:

2. P

   Provisions and law

   • IT Act, Sec 153, 156, 393, 393(6) (old 80TTB, 87A, 194A, 197A)
3. A

   Analysis

   Sec 153, Income-tax Act 2025 (old Sec 80TTB): Senior citizens can claim up to ₹50,000 deduction on interest income from banks, post offices, and co-operative banks. (Compare: Sec 153 (old Sec 80TTA) for others, only ₹10,000 on savings account interest only.) Higher basic exemption: Senior citizens (60-80): ₹3L basic exemption. Super senior (80+): ₹5L basic exemption (under old regime). No advance tax for senior citizens: If you're 60+ and do NOT have business income, you do not need to pay advance tax. Only self-assessment tax at year end. TDS exemption: File Form 121 (old Form 15H; 60+) to declare income below tax threshold, bank will not deduct TDS on FD/SCSS interest.

4. C

   Conclusion

   Talk to a Savvy for the exact next step on your case.

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