80ttb discount 50000 eleigibility criteria ?

Originally posted by : Roshni
	It is for which year? because you might have not reached 60.

for this coming year FY2019-20 {AY2020-21} &my dob is july 1959 (60 years completed on july2019)

Originally posted by : Kapadia Pravin
	That's right. SCSS deposit is in 80C. [ Subject to overall limit of 1.50 lakhs ]

I have no regular payments to LIC, house loan , NPS , medical claims etc. This year Fy2019-20 I made SCSS- FD (5 years) for the 1st time & will be availing 1.5 lakhs under 80c + 50k under 80TTB. (hopefully net income till Mar31st 2020 (after 2 lakh deduction) will go below 5 lakhs to be eligible for 87A discount) Next year on a income of Rs 7.5 lakh , I will file under the new scheme ---I wont avail any 80c or any other discount (other than 80TTB 50k for seniors if eleigible ) & will pay 10% on income between 5-7.5 lakh. No need to make any fresh investment blocking money . For tax payers with existing home loan, kid tution, parents medical bills, medical insurance, LIC /NPS yearly payments committed - old scheme is far better.Over all this budget is a eye wash but administration/compliance easier from FY2020-21