New Delhi, Aug. 9 -- Though income tax laws generally do not differentiate between a resident Individual taxpayer and a non-resident taxpayer, certain tax benefits/concessions are available to a resident individual only and not to a non-resident taxpayer. Let us discuss this in detail.

A resident taxpayer below 60 years old enjoys total tax exemption for income up to Rs.2.50 lakh annually. Those between 60 and 80 years old enjoy a higher basic exemption limit of Rs.3 lakh. Those who have completed 80 years even enjoy a higher limit of 5 lakh. All these varying exemption limits are applicable if you opt for the old tax regime. All the non-resident taxpayers opting for the old tax regime have a uniform basic exemption limit of Rs.2.50 lakh...