Hello Everybody
one of my client( govt.officer) got retirement benefits amounting to Rs.25 lakhs in year 2012-13. & would get another 15-20 lakhs in next 6 months......so my query is how to make investment in order to attract minimum tax. He is senior citizen , 60 years old..& he wants to invest maximum amt. in bank fixed deposits.
so, please, help me in this regard.
Firstly, the age to be considered as senior citizen as per income tax is 65 years. In current case your client is just 60 so he will be assessable as other than senior citizen.
Secondly, no other option but to avail benefits from 80C, 80D, or 80CCG if he is eligible.
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