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Has the tax slab increased from Rs 3 lakh to Rs 5 lakh for senior citizen customers?

Yes. Income Tax Slab has been increased to Rs 5 lakh from Rs 3 lakh, for senior citizen customers.

E.g.: Customer who is 65 years of age wants to submit Form 15H when estimated income comes to Rs 4,50,000. The income tax slab has been increased to Rs 5,00,000 from Rs 3,00,000, thus, s/he is eligible to submit the request and get exemption from tax.

Clarification: Customer here becomes eligible to submit Form 15H, as income is below Basic Exemption Limit of Rs 5,00,000, as applicable to him/her.