Banks say 60 and above for convasing deposits but Income tax authorities say 65 to claim exemtion limit of 1,85,000/- which is correct
2007-02-02 00:19:35 · 6 answers · asked by padminiramesh@yahoo.com 3 in Business & Finance ➔ Taxes ➔ India
As mentioned in Indian National Budget, Senior Citizen for Income Tax is considered after 65 years. So, the limit is same for all nationalised banks. Some private / co-operative banks may offer special interest rates for people above 60 years.
But in railways, 60 years is the criteria, if you want the senior citizen concession.
2007-02-02 19:48:07 · answer #1 · answered by mobile 4 · 0⤊ 0⤋
I think it is 65 because even for availing the schemes for railways their limit is 65 or above for senior citizen status.
2007-02-02 08:38:34 · answer #2 · answered by kumar 1 · 0⤊ 0⤋
after 65 age get the consider of senior citizen
2007-02-02 09:46:29 · answer #3 · answered by keral 6 · 0⤊ 0⤋
It is definetly 65 years.
2007-02-03 10:52:50 · answer #4 · answered by q4tax 3 · 0⤊ 0⤋
I think the railways' limit is 60 yrs..
2007-02-02 12:50:56 · answer #5 · answered by Kaushal V 2 · 0⤊ 0⤋
ya it is true....
2007-02-02 08:25:41 · answer #6 · answered by dimple 2 · 0⤊ 0⤋