Sat, Sep 09, 2023
There are some initiatives that provide funds in a lump sum, however, opting for the schemes that offer funds periodically is way better as it ensures a consistent source of income.
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Tue, Sep 05, 2023
SCSS offers a higher rate of interest of 8.2 per cent and the investment is eligible for deductions under Section 80C. On the other hand, all term deposits are not eligible for tax benefits and give lower return on investment.
The Senior Citizen Savings Scheme is a government-backed savings instrument. The investment option is eligible for tax deductions up to Rs 1.5 lakh under section 80C of the Income Tax Act, 1961.
Tue, Aug 29, 2023
As per the Income Tax Act 1961, pension is also considered as a source of income and thus becomes taxable as per the taxpayer’s respective tax slabs.
Tue, Jul 25, 2023
Special Senior Citizen Account offers several enticing features. Notable among these are the doorstep banking facility for senior citizens above 70 years, a free rewards international debit card, and preferential rates on fixed deposits.
Sun, Jun 18, 2023
The Income Tax Act has provisions of incentives for resident senior citizens and super senior citizens. Their tax liabilities also differ as they see added exemptions and lower tax slabs. Apart from this, some senior citizens are also exempt from filing their annual income tax returns. We discuss this and the income tax slabs for senior and super senior citizens and much more in this video.
Tue, Jan 31, 2023
FD interest rate: Currently, Axis Bank, PNB, IDFC First Bank and DCB Bank are among the few banks that offer over 8% interest to senior citizens.
Thu, Oct 27, 2022
HDFC Bank FD Interest Rates 2022: The hiked FD interest rates are applicable for deposit amounts less than Rs 2 crore. The bank has hiked FD interest rates by up to 50 basis points (bps).
Sun, Aug 21, 2022
While the world has looked to the seniors for their wisdom and knowledge, there is also a need to acknowledge their issues and problems.
Thu, Jul 28, 2022
Sources said that tweaking the age criteria for the senior citizen concession will limit the national transporter’s liability.
Thu, Jan 06, 2022
Here's the step-by-step guide on how senior citizens can register for precautionary and booster doses.
Mon, Feb 01, 2021
Presenting the Union Budget for FY21-22, Finance Minister Nirmala Sitharaman today proposed no filing of Income Tax Return (ITR) by senior citizens who are above 75 years of age and have an only pension and interest income.
Thu, Mar 12, 2020
Senior Citizen Savings Schemes: It's okay if you are not working after retirement but it's not all right if your money is not working. Keep your money at work when you are not working.
Tue, Feb 04, 2020
Retirement Planning: As the Indian youth today do not value saving for retirement, social security post-retirement is a major concern in India.
Fri, Jan 24, 2020
Budget 2020: Senior citizens are expecting from Nirmala Sitharaman to announce a full tax rebate on Senior Citizen Saving Scheme.
Wed, Dec 04, 2019
Senior Citizen Health Insurance: Elderly people pay around Rs 20,000 to Rs 30,000 a year in health insurance premiums, depending on the health of the insured and policy benefits.
Wed, Aug 21, 2019
World Senior Citizen Day 2019: There is a need for initiating dedicated fund for 60+ population that provides exclusive safety and financial security.
Tue, Jun 18, 2019
To avail this discount, senior citizens need to prove that he/she is a senior citizen through a valid ID proof, while going on a journey through Indian Railways.
Fri, Jun 14, 2019
HDFC Bank also allows the benefit for reinvestment of FDs on maturity. The minimum tenure for availing FDs at this bank is 7 days.
Mon, Jun 03, 2019
According to the Income-Tax department, a senior citizen is defined as someone whose age is 60 years but less than 80 years during the respective year.
Mon, Feb 12, 2018
If you missed the Budget highlights related to personal income tax, here are the details which you need to know if you are working in any organisation and fall under the tax slab. Introduction of Standard Deduction of Rs 40,000
Fri, Feb 02, 2018
The Finance Minister in his Budget speech mentioned that there would be no changes to individual income-tax rates as the government has made many positive changes in the personal income-tax in the last three years.
Sun, Dec 03, 2017
Under the scheme launched last year, senior citizens had the option to either avail the full concession provided to them on rail tickets or forgo the entire amount. This year, a new option was added in which a senior citizen can give up 50 per cent of the subsidy.
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