sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
News Headlines »
 Income Tax Return filing 2018: Here are some important tips for you
 Change in Examination Venue in Thane, Zone – II, May 2018 Examinations
 Here’s all you need to know New Income Tax return for salaried class available on IT portal
 What to do if you missed the (second) tax deadline
 Income-tax (5th Amendment) Rules, 2018 - Notification under section 9A (3) of the Income-tax Act, 1961 in respect of Fund Manager Regime
 Income Tax department warns salaried class again filing wrong ITRs
 ITR-1 form for AY 18-19 now available for e-filing
 New Income Tax Return Form for Salaried Class available in Portal
 Income Tax Return: ITR-1 ready for e-filing, says I-T department
 6 Tax changes you need to keep in mind while filing ITR for FY17-18 Income Tax Return efiling
 Income-tax (5th Amendment) Rules, 2018

Options for senior citizens to save tax
March, 04th 2008
Senior citizens can now plan their investments in such a manner that their tax burden would be less. The higher basic exemption limit and the avenue to get relief for investments in the Senior Citizen Savings Scheme will make things easier for them.

Though there are several options , making use of all the available deductions would significantly bring down their tax burden . Apart from investments in the Senior Citizen Savings Scheme, the premium paid on medical insurance is one of the best options before them. The senior citizen can invest up to Rs 1 lakh in such schemes.

With basic exemption limit at Rs 2.25 lakh, they have a higher disposable income in their hands. Investments up to Rs 28 lakh at an average rate of 8% will be tax free in the hands of senior citizens.

Though this makes large investments possible, they have to be careful enough to carry out the necessary paperwork to ensure that there is no tax deduction at source. Otherwise, they will have to find ways later to get refund from the income-tax department.

There are various investment avenues which ensure a regular flow of income for the individual depending on their needs. Some amount can also be channelled towards debt mutual funds, where a fall in interest rates will give the investor good returns. An interest rate fall will boost the prices of bonds that are held by the mutual funds.
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Integrated Software Solutions Integrated Software Development Integrated Software Services Integrated Software Solutions India Integrated Softw

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions