Age allowance is a tax benefit or additional exemption given to senior citizens based on their age.

Simple Meaning:

It is extra tax relief provided to older individuals.

Purpose:

To reduce tax burden on senior citizens

To provide financial support during retirement

Example:

In many tax systems, individuals above a certain age (e.g., 60 or 65 years) may receive a higher basic exemption limit or additional deduction.

In short, age allowance is a special tax concession given because of a person’s age.