Tax Laws for Senior Citizens

Taxation for Senior citizens Senior citizens have always had a special place in Indian society. This aspect has been acknowledged and respected even by the Indian tax laws, which attempt to cushion our elders by easing the tax paying and compliance process for them through certain benefits and deductions. Under the Income-tax Act, 1961, a 'Senior Citizen' has been defined as an individual who attains the age of 60 years at any time during a financial year, while an individual who is 80 years or more is categorised as 'Very Senior Citizen'. These categories of individuals enjoy some additional benefits…... Read More

How to select the APT health cover?

We all believe in the age old saying that ‘health is wealth’. However, with increasing medical costs it is becoming increasingly difficult for the common man to deal with emergency medical expenses. In comparison with its global counterparts, India today has one of the highest out of pocket spends at 61% which is a clear indication of the humongous stress on one’s budget and savings. To add to the woes of inflation going northwards, lifestyle changes and other environmental factors are adding to the rise in medical disorders and acute diseases. Taking note of the above mentioned factors and uncertainty…... Read More