Senior pension taxation
I hear lot of posts from pensioners asking about taxation on their pension. I agree. It should be tax free. Having said that, what about persons who were employed in jobs that did not give pension? I am one such person. I do not get any pension but lives out of the interest that I earn from bank deposits. I think that whatever concession that pensioners are seeking should apply to persons who share my plight. Senior citizens must not be required to pay tax on interest earned on bank deposits if such interests does not exceed Rs.60000 per month. Only on the amount that exceeds this limit should be taxed in the normal way. more
Viewed by 673
View all 46 comments Below 46 comments
The bank interest rate is reducing day by day. Moreover with the present status of NPA the financial condition of nationalised bank is critical. In the present scenario how safe is your investment.Govt should provide sovereign guarantee on the FD's to protect interest of investor specially senior citizens. The low interest rate is mainly benefit big houses who are major contributor of NPA. Thus there should not be any reduction in interest rate in small saving and INCOME TAX structure. more
Feb 29
for attending income tax dept senior citizens be paid Rs 2000/-, otherwise tax people should visit the Sr citizen at their residence. more
Feb 28
We can't fault IT deptt for that. They are going by the rule book. Its the rule makers who have to look into. As regards your comment on there not being a common voice...I thought we are discussing on LOCAL CIRCLES because of that only so that we get a common voice which, I expect, will reach the rule makers. Otherwise, there is no use wasting time on discussing any topic on this forum. more
Feb 28
I agree with Sri. Chandramohan Sharma on his observations. The Govt can comfortably run without collecting the meager amount. No special provisions to take care the senior citizens by the Govt and also no proper facilities in the transport, hospitals, banks, Govt departments, etc. People have misunderstood when we say the Govt has not taken care. In the western countries, Europe, USA etc., the senior citizens are respected so much which I personally experienced during my recent visit to US. We cannot expect such comforts here due to obvious reasons but we need some justification for our existence. more
Feb 28
