Tax Planing for senior citizen

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Neelam Soneja

Neelam Soneja (Querist)
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22 June 2011 what are the best options for investment for cenior citizen in order to do tax saving???

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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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.

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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.

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Neelam Soneja

Neelam Soneja (Querist)
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23 June 2011 whatis the maximum limit to invest in Postal deposit or recurring deposit for senior citizens??

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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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.

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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

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In RD A/c there is no Maximum limit.

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For further information pl. follow the link

https://www.indiapost.gov.in/netscape/seniorcitizen.html

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