Tax Planing for senior citizen
This query is : Resolved
Neelam Soneja
(Querist)
22 June 2011
what are the best options for investment for cenior citizen in order to do tax saving???
CA PARAS BAFNA
(Expert)
23 June 2011
Most of the attractive investment avenues are not available to Senior citizens how ever Banks, Post Offices and LIC pension plans etc are providing comparatively higher returns to the senior citizens.
*
If they are having higher income and do really want to good for the society, they may donate certain amount to charitable trusts who are working for the welfare of the public at large. In this way the society will be benefited and the pleasure in serving the society will give more satisfaction to the senior citizen then any thing else.
*
If they are having higher income and do really want to good for the society, they may donate certain amount to charitable trusts who are working for the welfare of the public at large. In this way the society will be benefited and the pleasure in serving the society will give more satisfaction to the senior citizen then any thing else.
Message likes :
1 times
Neelam Soneja
(Querist)
23 June 2011
whatis the maximum limit to invest in Postal deposit or recurring deposit for senior citizens??
CA PARAS BAFNA
(Expert)
23 June 2011
In MIS max. limit for a single account is 4.5 lacs and in case of joint a/c 9.00 lacs can be deposited.
*
The amount of MIS interest can be received in a Post Office Savings A/c and that againn can be reinvested in monthly RD A/c
*
In RD A/c there is no Maximum limit.
*
For further information pl. follow the link
https://www.indiapost.gov.in/netscape/seniorcitizen.html
*
The amount of MIS interest can be received in a Post Office Savings A/c and that againn can be reinvested in monthly RD A/c
*
In RD A/c there is no Maximum limit.
*
For further information pl. follow the link
https://www.indiapost.gov.in/netscape/seniorcitizen.html
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST on reimbursement of expenses
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Visiting card purchase
- Query on effect of registration of property
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Number of years as per AS amortisation of Goodwill
- Equity Share Sale and Purchase
- Additional trade name
- Wrong CMPo8 file
- Whether output tax is taken credit by purchaser
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
