Basic exemption for resident senior citizen (60-79) under OLD regime is:
ARs. 3,00,000
BRs. 2,50,000
CRs. 5,00,000
DRs. 1,00,000
Answer & Solution
Correct answer: A. Rs. 3,00,000
1. Old regime basic exemption varies by age.
2. Below 60: Rs. 2,50,000; senior citizens (60-79): Rs. 3,00,000.
3. Super senior citizens (80+): Rs. 5,00,000.
_Source: ICAI BoS CA Final Paper 7, Ch 1 "Basic Concepts"_
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