{"id":7876,"date":"2023-04-16T13:36:45","date_gmt":"2023-04-16T13:36:45","guid":{"rendered":"https:\/\/rakshithpai.com\/?p=7876"},"modified":"2023-05-02T14:09:32","modified_gmt":"2023-05-02T14:09:32","slug":"senior-citizens-tax-benefits","status":"publish","type":"post","link":"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/","title":{"rendered":"Benefits Available for Senior Citizens:\u00a0Tax &#038; Investment"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-662cc87921bb0\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\" style='display:none' id=\"ez-toc-cssicon-toggle-item-662cc87921bb0\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/#Introduction\" title=\"Introduction:\">Introduction:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/#Whos_A_Senior_Citizen\" title=\"Who\u2019s A Senior Citizen?\">Who\u2019s A Senior Citizen?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/#Difference_Between_Senior_Citizen_Super_Senior_Citizen\" title=\"Difference Between Senior Citizen &amp; Super Senior Citizen:\">Difference Between Senior Citizen &amp; Super Senior Citizen:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/#Investment_Tax_Benefits_Allowed_for_Indian_Seniors\" title=\"Investment &amp; Tax Benefits Allowed for Indian Seniors:\">Investment &amp; Tax Benefits Allowed for Indian Seniors:<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/#Specific_Investment_Options\" title=\"Specific Investment Options\">Specific Investment Options<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/#High_Slab_Rate\" title=\"High Slab Rate\">High Slab Rate<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/#Medical_Benefits\" title=\"Medical Benefits\">Medical Benefits<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/#Interest_Income\" title=\"Interest Income\">Interest Income<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/#Advance_tax_and_TDS\" title=\"Advance tax and TDS\">Advance tax and TDS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/#No_Tax_under_the_Reverse_Mortgage\" title=\"No Tax under the Reverse Mortgage.\">No Tax under the Reverse Mortgage.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/#Pension_Income_Standard_Deduction\" title=\"Pension Income &amp; Standard Deduction.\">Pension Income &amp; Standard Deduction.<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/#Conclusion\" title=\"Conclusion:\">Conclusion:<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/#FAQs\" title=\"FAQ&#8217;s:\">FAQ&#8217;s:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/#For_More_Information_Check_this_Video\" title=\"For More Information, Check this Video:\">For More Information, Check this Video:<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/#Also_read\" title=\"Also read:\">Also read:<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Introduction\"><\/span><strong>Introduction:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Whether we like to admit it or not, we all worry about the future and make substantial decisions to save and invest money in order to provide for a comfortable retirement.\u00a0<\/p>\n\n\n\n<div class=\"wp-block-buttons is-horizontal is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-1 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline\"><a class=\"wp-block-button__link has-text-color has-background wp-element-button\" href=\"https:\/\/link.upstox.com\/nTL28g5QMbdTQ28M6\" style=\"border-radius:50px;color:#0f0027;background-color:#e4fa00\" rel=\"nofollow\"><strong>Open Upstox Account Now!<\/strong><\/a><\/div>\n<\/div>\n\n\n\n<p><strong>Many of our current activities contribute not just to our own development but also to the country&#8217;s overall progress. However, when we do require government assistance, it is in our old age. Will the government support us?<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/04\/m98nrbuzbpc-1024x720.jpg\" alt=\"Benefits Available for Senior Citizens:\u00a0Income Tax and Investments\" class=\"wp-image-7880\" width=\"1200\" height=\"844\" srcset=\"https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/04\/m98nrbuzbpc-1024x720.jpg 1024w, https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/04\/m98nrbuzbpc-300x211.jpg 300w, https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/04\/m98nrbuzbpc-768x540.jpg 768w, https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/04\/m98nrbuzbpc-1536x1080.jpg 1536w, https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/04\/m98nrbuzbpc-150x105.jpg 150w, https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/04\/m98nrbuzbpc.jpg 1600w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/figure>\n\n\n\n<p>Yes! but not as you think it does.<\/p>\n\n\n\n<p>Yes, we are discussing the portion of our income that must be set aside to fulfill our legal obligation to pay income taxes to the government. We have done this habitually for years. But, what&#8217;s also important is to invest in ourselves.<\/p>\n\n\n\n<p><strong>For our future selves to be honest.<\/strong><\/p>\n\n\n\n<p>In this article, we\u2019ll address various tax benefits &amp; investment options available to senior citizens in India as per the Income Tax Act.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Whos_A_Senior_Citizen\"><\/span><strong>Who\u2019s A Senior Citizen?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>A senior citizen individual is someone who is above the age of 60 years for that financial year and onwards. <\/strong>Basically, if you are 60 or older on April 1st of this fiscal year, you are considered a senior for the following tax assessment. And, your basic exemption limit is set at 3 lakhs (5 lakhs in the case of super seniors).<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Difference_Between_Senior_Citizen_Super_Senior_Citizen\"><\/span><strong>Difference Between Senior Citizen &amp; Super Senior Citizen:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>As per the Income Tax Act, you are a senior if you are in the age group of 60 to 80 years of age. Post 80, you are considered a super senior.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Investment_Tax_Benefits_Allowed_for_Indian_Seniors\"><\/span><strong>Investment &amp; Tax Benefits Allowed for Indian Seniors:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>The following are the top 5 major investment and tax benefits available for Indian Seniors and super seniors;<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-embed aligncenter is-type-wp-embed is-provider-embed wp-block-embed-embed\"><blockquote class=\"wp-embedded-content\" data-secret=\"nNlxcfwfQ7\"><a href=\"https:\/\/rakshithpai.com\/save-money-on-taxes\/\">Follow These Steps to Save Money on Taxes:<\/a><\/blockquote><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Follow These Steps to Save Money on Taxes:&#8221; &#8212; \" src=\"https:\/\/rakshithpai.com\/save-money-on-taxes\/embed\/#?secret=OmevHLHAu4#?secret=nNlxcfwfQ7\" data-secret=\"nNlxcfwfQ7\" width=\"200\" height=\"200\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Specific_Investment_Options\"><\/span><strong>Specific Investment Options<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>Senior Citizen Indians can invest in the Senior Citizen Savings Scheme (SCSS), under which you can deposit up to 30 lakh rupees for a period of 5 years and earn investor income up to 8.2%, which is one of the highest interest sources amongst various retirement accounts.<\/strong><\/p>\n\n\n\n<p>SCSS is absolutely safe and easy to invest in. With a minimum deposit of 1,000 to 30 lakh, such investments are to be made in multiples of 1000. And investment up to Rs. 1.5 lakh is tax deductible u\/s 80C.<\/p>\n\n\n\n<p>You\u2019ll receive your interest income every quarter. And, such income is taxable if it is over Rs. 10,000.<\/p>\n\n\n\n<p><strong>For example,<\/strong> if you deposit Rs. 30 lakhs in the SCSS account at an 8.2% interest rate, you\u2019ll receive Rs. 2,46,000 per annum. Given to you every quarter at Rs. 61,500 per quarter.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-horizontal is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-2 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline\"><a class=\"wp-block-button__link has-text-color has-background wp-element-button\" href=\"https:\/\/link.upstox.com\/nTL28g5QMbdTQ28M6\" style=\"border-radius:50px;color:#0f0027;background-color:#e4fa00\" rel=\"nofollow\"><strong>Open Upstox Account Now!<\/strong><\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"High_Slab_Rate\"><\/span><strong>High Slab Rate<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>It&#8217;s a known fact that if you are a senior citizen, your income tax slab rate will be higher. More so the case if you are a super senior aged above 80 years.<\/p>\n\n\n\n<p><strong>As per the increased slab rate, you\u2019ll be taxed only if your taxable income exceeds Rs. 3 lakh, and in the case of super seniors, it is Rs. 5 lakh.<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Medical_Benefits\"><\/span><strong>Medical Benefits<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>We know that as we age, we are prone to multiple illnesses, and considering this fact, as per the IT Act, senior citizens get additional deductions such as;<\/p>\n\n\n\n<ol>\n<li><strong>Higher deduction limit for medical insurance premium u\/s 80D up to Rs. 50,000 per annum<\/strong><\/li>\n\n\n\n<li><strong>Higher Deduction Limit for Medical Treatment for an Ailment of a Specified Disease u\/s 80DDB up to Rs. 1 lakh per annum.<\/strong><\/li>\n<\/ol>\n\n\n\n<p>The standard deduction for medical insurance premiums paid by non-senior citizens under Section 80D is Rs. 25,000; the deduction for senior citizens is Rs. 50,000. (Before Budget 2018, the cap was 30,000; now it&#8217;s 50,000.)&nbsp;<\/p>\n\n\n\n<p><strong>In addition, senior citizens can also deduct the cost of their medical care and their insurance premiums, under Section 80D.<\/strong><\/p>\n\n\n\n<p>And under Section 80DDB, senior citizens and super-seniors can claim up to Rs. 1,00,000 on expenses incurred for specified aliments.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Interest_Income\"><\/span><strong>Interest Income<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>Apart from investment options such as SCSS, you as a senior citizen can also benefit from the higher deduction limit for interest earned on all your interest income u\/s 80TTB. <\/strong>Basically, the deduction is allowed for a maximum interest income of up to \u20b9 50,000 earned by the senior citizen.<\/p>\n\n\n\n<p>Which includes, savings &amp; fixed deposits, any deposit with the post office or cooperative banks, etc.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Advance_tax_and_TDS\"><\/span><strong>Advance tax and TDS<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>Senior Citizens not having business income are exempt from payment of any advance tax and are only required to pay self-assessment tax on their total income. <\/strong>Also, you need not pay TDS on your fixed deposit interest income if you do not have any other source of income by simply submitting Form 15H.<\/p>\n\n\n\n<p>If a senior citizen&#8217;s whole income is exempt from income tax and he\/she owes no tax for the current fiscal year, he\/she can request that their TDS on interest on fixed deposits be waived by filing Form 15H.<\/p>\n\n\n\n<figure class=\"wp-block-embed aligncenter is-type-wp-embed is-provider-embed wp-block-embed-embed\"><blockquote class=\"wp-embedded-content\" data-secret=\"NCHq1PLlu6\"><a href=\"https:\/\/rakshithpai.com\/easy-ways-to-save-income-tax\/\">15 Best Ways to Save Income Tax in India:<\/a><\/blockquote><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;15 Best Ways to Save Income Tax in India:&#8221; &#8212; \" src=\"https:\/\/rakshithpai.com\/easy-ways-to-save-income-tax\/embed\/#?secret=eWf3LPY0Hx#?secret=NCHq1PLlu6\" data-secret=\"NCHq1PLlu6\" width=\"200\" height=\"200\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"No_Tax_under_the_Reverse_Mortgage\"><\/span><strong>No Tax under the Reverse Mortgage.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>A Reverse mortgage in simple terms is the opposite of a general housing loan. <\/strong>Here, you\u2019ll hand over your property documents in exchange for a steady monthly income. Watch this video to learn more about Reverse mortgage.&nbsp;<strong><span style=\"text-decoration: underline;\">CLICK HERE!<\/span><\/strong><\/p>\n\n\n\n<p>The facility of Reverse Mortgage Scheme is only available to individuals over the age of 60, and once you mortgage your home under the Reverse Mortgage Scheme, the amount paid to you as installments is exempt from tax.<\/p>\n\n\n\n<p>Basically,<strong> By taking out a mortgage on their house for the rest of their lives, seniors can get a steady stream of income without giving up control of the property.&nbsp;<\/strong><\/p>\n\n\n\n<p>In this plan, the borrower&#8217;s legal heirs receive any remaining funds from the sale of the collateral after the loan has been repaid in full with accrued interest. Payments made to seniors under this program are free from income tax.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Pension_Income_Standard_Deduction\"><\/span><strong>Pension Income &amp; Standard Deduction.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>Seniors aged 75 or older who only receive pension income and interest income are not required to file individual tax returns (ITRs).<\/strong> Also, in such a case, you can claim up to Rs. 50,000 as a standard deduction.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Respect and affection for one&#8217;s elders are cornerstones of Indian culture. They are cared for so that future generations might learn from their experiences. But, <strong>let&#8217;s all agree to the fact that taking care of elders is difficult when the cost of healthcare is dramatically rising.<\/strong><\/p>\n\n\n\n<p>It is after realizing these aspects that our government has given various tax benefits and special investment options to senior citizen Indians.<\/p>\n\n\n\n<p><strong>The government provides older persons with unique tax breaks in an effort to preserve cultural and moral norms.<\/strong> The goal is to help them relax and enjoy this time in their lives. Knowing about the tax breaks available to seniors is essential if you or your elderly parents are doing any kind of financial planning.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-horizontal is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-3 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline\"><a class=\"wp-block-button__link has-text-color has-background wp-element-button\" href=\"https:\/\/link.upstox.com\/nTL28g5QMbdTQ28M6\" style=\"border-radius:50px;color:#0f0027;background-color:#e4fa00\" rel=\"nofollow\"><strong>Open Upstox Account Now!<\/strong><\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FAQs\"><\/span><strong>FAQ&#8217;s:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<div class=\"wp-block-uagb-faq uagb-faq__outer-wrap uagb-block-2170c17a uagb-faq-icon-row uagb-faq-layout-accordion uagb-faq-expand-first-true uagb-faq-inactive-other-true uagb-faq__wrap uagb-buttons-layout-wrap uagb-faq-equal-height\" data-faqtoggle=\"true\" role=\"tablist\">\n<div class=\"wp-block-uagb-faq-child uagb-faq-child__outer-wrap uagb-faq-item uagb-block-d7eb72b9\" role=\"tab\" tabindex=\"0\"><div class=\"uagb-faq-questions-button uagb-faq-questions\"><span class=\"uagb-icon uagb-faq-icon-wrap\"><svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 448 512\"><path d=\"M432 256c0 17.69-14.33 32.01-32 32.01H256v144c0 17.69-14.33 31.99-32 31.99s-32-14.3-32-31.99v-144H48c-17.67 0-32-14.32-32-32.01s14.33-31.99 32-31.99H192v-144c0-17.69 14.33-32.01 32-32.01s32 14.32 32 32.01v144h144C417.7 224 432 238.3 432 256z\"><\/path><\/svg><\/span><span class=\"uagb-icon-active uagb-faq-icon-wrap\"><svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 448 512\"><path d=\"M400 288h-352c-17.69 0-32-14.32-32-32.01s14.31-31.99 32-31.99h352c17.69 0 32 14.3 32 31.99S417.7 288 400 288z\"><\/path><\/svg><\/span><span class=\"uagb-question\"><strong>How much a senior citizen can earn tax free?<\/strong><\/span><\/div><p class=\"uagb-faq-content\">In the case of a senior citizen, income up to Rs. 3 lakh is exempt from taxes, and for a super senior citizen, up to Rs. 5 lakh is exempt from tax.\u00a0<\/p><\/div>\n\n\n\n<div class=\"wp-block-uagb-faq-child uagb-faq-child__outer-wrap uagb-faq-item uagb-block-60fdbe07\" role=\"tab\" tabindex=\"0\"><div class=\"uagb-faq-questions-button uagb-faq-questions\"><span class=\"uagb-icon uagb-faq-icon-wrap\"><svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 448 512\"><path d=\"M432 256c0 17.69-14.33 32.01-32 32.01H256v144c0 17.69-14.33 31.99-32 31.99s-32-14.3-32-31.99v-144H48c-17.67 0-32-14.32-32-32.01s14.33-31.99 32-31.99H192v-144c0-17.69 14.33-32.01 32-32.01s32 14.32 32 32.01v144h144C417.7 224 432 238.3 432 256z\"><\/path><\/svg><\/span><span class=\"uagb-icon-active uagb-faq-icon-wrap\"><svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 448 512\"><path d=\"M400 288h-352c-17.69 0-32-14.32-32-32.01s14.31-31.99 32-31.99h352c17.69 0 32 14.3 32 31.99S417.7 288 400 288z\"><\/path><\/svg><\/span><span class=\"uagb-question\"><strong>What is the standard deduction for senior citizens?<\/strong><\/span><\/div><p class=\"uagb-faq-content\">The standard deduction for seniors is Rs.\u00a050,000 as per the most recent amendments to the Income Tax Act.<\/p><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"For_More_Information_Check_this_Video\"><\/span><strong>For More Information, Check this Video:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"ast-oembed-container \" style=\"height: 100%;\"><iframe loading=\"lazy\" title=\"Benefits Available For Senior Citizens | Seven (7) Tax Benefits Available For Indian Senior Citizens\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/JwYa6DZu564?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/div><\/figure>\n\n\n\n<p><strong>Disclaimer: <\/strong>All the information on this website is published in good faith and for general information purposes only.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Also_read\"><\/span><strong>Also read:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><a href=\"https:\/\/rakshithpai.com\/ways-to-earn-stock-market\/\" target=\"_blank\" rel=\"noreferrer noopener\">Three (3) Ways to Earn Money from the Stock Market:<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/rakshithpai.com\/term-life-insurance\/\" target=\"_blank\" rel=\"noreferrer noopener\">Term Life Insurance: Its Features &amp; Benefits<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/rakshithpai.com\/global-war-coffee-can-investing\/\" target=\"_blank\" rel=\"noreferrer noopener\">Global War! Have a cup of coffee<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/rakshithpai.com\/companies-invest-blindly\/\" target=\"_blank\" rel=\"noreferrer noopener\">Top 10 BEST Companies To Invest In Blindly?!<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/rakshithpai.com\/comprehensive-financial-planning\/\" target=\"_blank\" rel=\"noreferrer noopener\">Comprehensive Financial Planning: Features Explained<\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Introduction: Whether we like to admit it or not, we all worry about the future and make substantial decisions to save and invest money in order to provide for a comfortable retirement.\u00a0 Many of our current activities contribute not just to our own development but also to the country&#8217;s overall progress. However, when we do [&hellip;]<\/p>\n<div class='heateor_sss_sharing_container heateor_sss_vertical_sharing heateor_sss_bottom_sharing' style='width:44px;right: -10px;top: 100px;background-color: Dark Blue' data-heateor-sss-href='https:\/\/rakshithpai.com\/wp-json\/wp\/v2\/posts\/7876'><div class=\"heateor_sss_sharing_ul\"><a aria-label=\"Facebook\" class=\"heateor_sss_facebook\" href=\"https:\/\/www.facebook.com\/sharer\/sharer.php?u=https%3A%2F%2Frakshithpai.com%2Fwp-json%2Fwp%2Fv2%2Fposts%2F7876\" title=\"Facebook\" rel=\"nofollow noopener\" target=\"_blank\" style=\"font-size:32px!important;box-shadow:none;display:inline-block;vertical-align:middle\"><span class=\"heateor_sss_svg\" style=\"background-color:#0765FE;width:40px;height:40px;margin:0;display:inline-block;opacity:1;float:left;font-size:32px;box-shadow:none;display:inline-block;font-size:16px;padding:0 4px;vertical-align:middle;background-repeat:repeat;overflow:hidden;padding:0;cursor:pointer;box-sizing:content-box\"><svg style=\"display:block;\" focusable=\"false\" aria-hidden=\"true\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"100%\" height=\"100%\" viewBox=\"0 0 32 32\"><path fill=\"#fff\" d=\"M28 16c0-6.627-5.373-12-12-12S4 9.373 4 16c0 5.628 3.875 10.35 9.101 11.647v-7.98h-2.474V16H13.1v-1.58c0-4.085 1.849-5.978 5.859-5.978.76 0 2.072.15 2.608.298v3.325c-.283-.03-.775-.045-1.386-.045-1.967 0-2.728.745-2.728 2.683V16h3.92l-.673 3.667h-3.247v8.245C23.395 27.195 28 22.135 28 16Z\"><\/path><\/svg><\/span><\/a><a aria-label=\"Twitter\" class=\"heateor_sss_button_twitter\" href=\"http:\/\/twitter.com\/intent\/tweet?text=%20-%20Save%20-%20Invest%20-%20Repeat&url=https%3A%2F%2Frakshithpai.com%2Fwp-json%2Fwp%2Fv2%2Fposts%2F7876\" title=\"Twitter\" rel=\"nofollow noopener\" target=\"_blank\" style=\"font-size:32px!important;box-shadow:none;display:inline-block;vertical-align:middle\"><span class=\"heateor_sss_svg heateor_sss_s__default heateor_sss_s_twitter\" style=\"background-color:#55acee;width:40px;height:40px;margin:0;display:inline-block;opacity:1;float:left;font-size:32px;box-shadow:none;display:inline-block;font-size:16px;padding:0 4px;vertical-align:middle;background-repeat:repeat;overflow:hidden;padding:0;cursor:pointer;box-sizing:content-box\"><svg style=\"display:block;\" focusable=\"false\" aria-hidden=\"true\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"100%\" height=\"100%\" viewBox=\"-4 -4 39 39\"><path d=\"M28 8.557a9.913 9.913 0 0 1-2.828.775 4.93 4.93 0 0 0 2.166-2.725 9.738 9.738 0 0 1-3.13 1.194 4.92 4.92 0 0 0-3.593-1.55 4.924 4.924 0 0 0-4.794 6.049c-4.09-.21-7.72-2.17-10.15-5.15a4.942 4.942 0 0 0-.665 2.477c0 1.71.87 3.214 2.19 4.1a4.968 4.968 0 0 1-2.23-.616v.06c0 2.39 1.7 4.38 3.952 4.83-.414.115-.85.174-1.297.174-.318 0-.626-.03-.928-.086a4.935 4.935 0 0 0 4.6 3.42 9.893 9.893 0 0 1-6.114 2.107c-.398 0-.79-.023-1.175-.068a13.953 13.953 0 0 0 7.55 2.213c9.056 0 14.01-7.507 14.01-14.013 0-.213-.005-.426-.015-.637.96-.695 1.795-1.56 2.455-2.55z\" fill=\"#fff\"><\/path><\/svg><\/span><\/a><a aria-label=\"Linkedin\" class=\"heateor_sss_button_linkedin\" href=\"https:\/\/www.linkedin.com\/sharing\/share-offsite\/?url=https%3A%2F%2Frakshithpai.com%2Fwp-json%2Fwp%2Fv2%2Fposts%2F7876\" title=\"Linkedin\" rel=\"nofollow noopener\" target=\"_blank\" style=\"font-size:32px!important;box-shadow:none;display:inline-block;vertical-align:middle\"><span class=\"heateor_sss_svg heateor_sss_s__default heateor_sss_s_linkedin\" style=\"background-color:#0077b5;width:40px;height:40px;margin:0;display:inline-block;opacity:1;float:left;font-size:32px;box-shadow:none;display:inline-block;font-size:16px;padding:0 4px;vertical-align:middle;background-repeat:repeat;overflow:hidden;padding:0;cursor:pointer;box-sizing:content-box\"><svg style=\"display:block;\" focusable=\"false\" aria-hidden=\"true\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"100%\" height=\"100%\" viewBox=\"0 0 32 32\"><path d=\"M6.227 12.61h4.19v13.48h-4.19V12.61zm2.095-6.7a2.43 2.43 0 0 1 0 4.86c-1.344 0-2.428-1.09-2.428-2.43s1.084-2.43 2.428-2.43m4.72 6.7h4.02v1.84h.058c.56-1.058 1.927-2.176 3.965-2.176 4.238 0 5.02 2.792 5.02 6.42v7.395h-4.183v-6.56c0-1.564-.03-3.574-2.178-3.574-2.18 0-2.514 1.7-2.514 3.46v6.668h-4.187V12.61z\" fill=\"#fff\"><\/path><\/svg><\/span><\/a><a aria-label=\"Whatsapp\" class=\"heateor_sss_whatsapp\" href=\"https:\/\/api.whatsapp.com\/send?text=%20-%20Save%20-%20Invest%20-%20Repeat https%3A%2F%2Frakshithpai.com%2Fwp-json%2Fwp%2Fv2%2Fposts%2F7876\" title=\"Whatsapp\" rel=\"nofollow noopener\" target=\"_blank\" style=\"font-size:32px!important;box-shadow:none;display:inline-block;vertical-align:middle\"><span class=\"heateor_sss_svg\" style=\"background-color:#55eb4c;width:40px;height:40px;margin:0;display:inline-block;opacity:1;float:left;font-size:32px;box-shadow:none;display:inline-block;font-size:16px;padding:0 4px;vertical-align:middle;background-repeat:repeat;overflow:hidden;padding:0;cursor:pointer;box-sizing:content-box\"><svg style=\"display:block;\" focusable=\"false\" aria-hidden=\"true\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"100%\" height=\"100%\" viewBox=\"-6 -5 40 40\"><path class=\"heateor_sss_svg_stroke heateor_sss_no_fill\" stroke=\"#fff\" stroke-width=\"2\" fill=\"none\" d=\"M 11.579798566743314 24.396926207859085 A 10 10 0 1 0 6.808479557110079 20.73576436351046\"><\/path><path d=\"M 7 19 l -1 6 l 6 -1\" class=\"heateor_sss_no_fill heateor_sss_svg_stroke\" stroke=\"#fff\" stroke-width=\"2\" fill=\"none\"><\/path><path d=\"M 10 10 q -1 8 8 11 c 5 -1 0 -6 -1 -3 q -4 -3 -5 -5 c 4 -2 -1 -5 -1 -4\" fill=\"#fff\"><\/path><\/svg><\/span><\/a><a aria-label=\"Copy Link\" class=\"heateor_sss_button_copy_link\" title=\"Copy Link\" rel=\"nofollow noopener\" href=\"https:\/\/rakshithpai.com\/wp-json\/wp\/v2\/posts\/7876\" onclick=\"event.preventDefault()\" style=\"font-size:32px!important;box-shadow:none;display:inline-block;vertical-align:middle\"><span class=\"heateor_sss_svg heateor_sss_s__default heateor_sss_s_copy_link\" style=\"background-color:#ffc112;width:40px;height:40px;margin:0;display:inline-block;opacity:1;float:left;font-size:32px;box-shadow:none;display:inline-block;font-size:16px;padding:0 4px;vertical-align:middle;background-repeat:repeat;overflow:hidden;padding:0;cursor:pointer;box-sizing:content-box\"><svg style=\"display:block;\" focusable=\"false\" aria-hidden=\"true\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"100%\" height=\"100%\" viewBox=\"-4 -4 40 40\"><path fill=\"#fff\" d=\"M24.412 21.177c0-.36-.126-.665-.377-.917l-2.804-2.804a1.235 1.235 0 0 0-.913-.378c-.377 0-.7.144-.97.43.026.028.11.11.255.25.144.14.24.236.29.29s.117.14.2.256c.087.117.146.232.177.344.03.112.046.236.046.37 0 .36-.126.666-.377.918a1.25 1.25 0 0 1-.918.377 1.4 1.4 0 0 1-.373-.047 1.062 1.062 0 0 1-.345-.175 2.268 2.268 0 0 1-.256-.2 6.815 6.815 0 0 1-.29-.29c-.14-.142-.223-.23-.25-.254-.297.28-.445.607-.445.984 0 .36.126.664.377.916l2.778 2.79c.243.243.548.364.917.364.36 0 .665-.118.917-.35l1.982-1.97c.252-.25.378-.55.378-.9zm-9.477-9.504c0-.36-.126-.665-.377-.917l-2.777-2.79a1.235 1.235 0 0 0-.913-.378c-.35 0-.656.12-.917.364L7.967 9.92c-.254.252-.38.553-.38.903 0 .36.126.665.38.917l2.802 2.804c.242.243.547.364.916.364.377 0 .7-.14.97-.418-.026-.027-.11-.11-.255-.25s-.24-.235-.29-.29a2.675 2.675 0 0 1-.2-.255 1.052 1.052 0 0 1-.176-.344 1.396 1.396 0 0 1-.047-.37c0-.36.126-.662.377-.914.252-.252.557-.377.917-.377.136 0 .26.015.37.046.114.03.23.09.346.175.117.085.202.153.256.2.054.05.15.148.29.29.14.146.222.23.25.258.294-.278.442-.606.442-.983zM27 21.177c0 1.078-.382 1.99-1.146 2.736l-1.982 1.968c-.745.75-1.658 1.12-2.736 1.12-1.087 0-2.004-.38-2.75-1.143l-2.777-2.79c-.75-.747-1.12-1.66-1.12-2.737 0-1.106.392-2.046 1.183-2.818l-1.186-1.185c-.774.79-1.708 1.186-2.805 1.186-1.078 0-1.995-.376-2.75-1.13l-2.803-2.81C5.377 12.82 5 11.903 5 10.826c0-1.08.382-1.993 1.146-2.738L8.128 6.12C8.873 5.372 9.785 5 10.864 5c1.087 0 2.004.382 2.75 1.146l2.777 2.79c.75.747 1.12 1.66 1.12 2.737 0 1.105-.392 2.045-1.183 2.817l1.186 1.186c.774-.79 1.708-1.186 2.805-1.186 1.078 0 1.995.377 2.75 1.132l2.804 2.804c.754.755 1.13 1.672 1.13 2.75z\"\/><\/svg><\/span><\/a><a class=\"heateor_sss_more\" title=\"More\" rel=\"nofollow noopener\" style=\"font-size: 32px!important;border:0;box-shadow:none;display:inline-block!important;font-size:16px;padding:0 4px;vertical-align: middle;display:inline;\" href=\"https:\/\/rakshithpai.com\/wp-json\/wp\/v2\/posts\/7876\" onclick=\"event.preventDefault()\"><span class=\"heateor_sss_svg\" style=\"background-color:#ee8e2d;width:40px;height:40px;margin:0;display:inline-block!important;opacity:1;float:left;font-size:32px!important;box-shadow:none;display:inline-block;font-size:16px;padding:0 4px;vertical-align:middle;display:inline;background-repeat:repeat;overflow:hidden;padding:0;cursor:pointer;box-sizing:content-box;\" onclick=\"heateorSssMoreSharingPopup(this, 'https:\/\/rakshithpai.com\/wp-json\/wp\/v2\/posts\/7876', '%20-%20Save%20-%20Invest%20-%20Repeat', '' )\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewBox=\"-.3 0 32 32\" version=\"1.1\" width=\"100%\" height=\"100%\" style=\"display:block;\" xml:space=\"preserve\"><g><path fill=\"#fff\" d=\"M18 14V8h-4v6H8v4h6v6h4v-6h6v-4h-6z\" fill-rule=\"evenodd\"><\/path><\/g><\/svg><\/span><\/a><\/div><div class=\"heateorSssClear\"><\/div><\/div>","protected":false},"author":1,"featured_media":7877,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[1,10],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Benefits Available for Senior Citizens:\u00a0Tax &amp; Investment -<\/title>\n<meta name=\"description\" content=\"Benefits Available for Senior Citizens:\u00a0Who\u2019s A Senior Citizen? Difference Between Senior Citizen &amp; Super Senior Citizen: Investment &amp; Tax Benefits Allowed for Indian Seniors:\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Benefits Available for Senior Citizens:\u00a0Tax &amp; Investment -\" \/>\n<meta property=\"og:description\" content=\"Benefits Available for Senior Citizens:\u00a0Who\u2019s A Senior Citizen? Difference Between Senior Citizen &amp; Super Senior Citizen: Investment &amp; Tax Benefits Allowed for Indian Seniors:\" \/>\n<meta property=\"og:url\" content=\"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/Iam.Mrpai\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-16T13:36:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-02T14:09:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/04\/Benefits-Available-For-Senior-Citizens-Seven-7-Tax-Benefits-Available-For-Indian-Senior-Citizens.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1586\" \/>\n\t<meta property=\"og:image:height\" content=\"887\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Rakshith Pai\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Iam_MrPai\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rakshith Pai\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/\",\"url\":\"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/\",\"name\":\"Benefits Available for Senior Citizens:\u00a0Tax & Investment -\",\"isPartOf\":{\"@id\":\"https:\/\/rakshithpai.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/04\/Benefits-Available-For-Senior-Citizens-Seven-7-Tax-Benefits-Available-For-Indian-Senior-Citizens.jpg\",\"datePublished\":\"2023-04-16T13:36:45+00:00\",\"dateModified\":\"2023-05-02T14:09:32+00:00\",\"author\":{\"@id\":\"https:\/\/rakshithpai.com\/#\/schema\/person\/5a10929466befdcdb3013e5341aeb693\"},\"description\":\"Benefits Available for Senior Citizens:\u00a0Who\u2019s A Senior Citizen? Difference Between Senior Citizen & Super Senior Citizen: Investment & Tax Benefits Allowed for Indian Seniors:\",\"breadcrumb\":{\"@id\":\"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/#primaryimage\",\"url\":\"https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/04\/Benefits-Available-For-Senior-Citizens-Seven-7-Tax-Benefits-Available-For-Indian-Senior-Citizens.jpg\",\"contentUrl\":\"https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/04\/Benefits-Available-For-Senior-Citizens-Seven-7-Tax-Benefits-Available-For-Indian-Senior-Citizens.jpg\",\"width\":1586,\"height\":887,\"caption\":\"Benefits Available For Senior Citizens Seven (7) Tax Benefits Available For Indian Senior Citizens\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/rakshithpai.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Benefits Available for Senior Citizens:\u00a0Tax &#038; Investment\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/rakshithpai.com\/#website\",\"url\":\"https:\/\/rakshithpai.com\/\",\"name\":\"\",\"description\":\"Save - Invest - Repeat\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/rakshithpai.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/rakshithpai.com\/#\/schema\/person\/5a10929466befdcdb3013e5341aeb693\",\"name\":\"Rakshith Pai\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/rakshithpai.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/34b7459182e8fb8b80ca20098eb1e8a9?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/34b7459182e8fb8b80ca20098eb1e8a9?s=96&d=mm&r=g\",\"caption\":\"Rakshith Pai\"},\"description\":\"An Investor, Entrepreneur by profession, and an Economist (Monetarist) by passion. Professional Investor in Equities and other assets. Here to spread the concept of \u201cSane Investing\u201d.\",\"sameAs\":[\"https:\/\/rakshithpai.com\",\"https:\/\/www.facebook.com\/Iam.Mrpai\",\"https:\/\/www.instagram.com\/iam_mrpai\",\"https:\/\/www.linkedin.com\/in\/iam-mrpai\",\"https:\/\/in.pinterest.com\/Iam_MrPai\",\"https:\/\/x.com\/Iam_MrPai\",\"https:\/\/www.youtube.com\/channel\/UC3vfc8G1sysZleCAKbytRFQ?view_as=subscriber\"],\"url\":\"https:\/\/rakshithpai.com\/author\/mrpai27\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Benefits Available for Senior Citizens:\u00a0Tax & Investment -","description":"Benefits Available for Senior Citizens:\u00a0Who\u2019s A Senior Citizen? Difference Between Senior Citizen & Super Senior Citizen: Investment & Tax Benefits Allowed for Indian Seniors:","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/","og_locale":"en_US","og_type":"article","og_title":"Benefits Available for Senior Citizens:\u00a0Tax & Investment -","og_description":"Benefits Available for Senior Citizens:\u00a0Who\u2019s A Senior Citizen? Difference Between Senior Citizen & Super Senior Citizen: Investment & Tax Benefits Allowed for Indian Seniors:","og_url":"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/","article_author":"https:\/\/www.facebook.com\/Iam.Mrpai","article_published_time":"2023-04-16T13:36:45+00:00","article_modified_time":"2023-05-02T14:09:32+00:00","og_image":[{"width":1586,"height":887,"url":"https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/04\/Benefits-Available-For-Senior-Citizens-Seven-7-Tax-Benefits-Available-For-Indian-Senior-Citizens.jpg","type":"image\/jpeg"}],"author":"Rakshith Pai","twitter_card":"summary_large_image","twitter_creator":"@Iam_MrPai","twitter_misc":{"Written by":"Rakshith Pai","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/","url":"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/","name":"Benefits Available for Senior Citizens:\u00a0Tax & Investment -","isPartOf":{"@id":"https:\/\/rakshithpai.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/#primaryimage"},"image":{"@id":"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/#primaryimage"},"thumbnailUrl":"https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/04\/Benefits-Available-For-Senior-Citizens-Seven-7-Tax-Benefits-Available-For-Indian-Senior-Citizens.jpg","datePublished":"2023-04-16T13:36:45+00:00","dateModified":"2023-05-02T14:09:32+00:00","author":{"@id":"https:\/\/rakshithpai.com\/#\/schema\/person\/5a10929466befdcdb3013e5341aeb693"},"description":"Benefits Available for Senior Citizens:\u00a0Who\u2019s A Senior Citizen? Difference Between Senior Citizen & Super Senior Citizen: Investment & Tax Benefits Allowed for Indian Seniors:","breadcrumb":{"@id":"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/#primaryimage","url":"https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/04\/Benefits-Available-For-Senior-Citizens-Seven-7-Tax-Benefits-Available-For-Indian-Senior-Citizens.jpg","contentUrl":"https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/04\/Benefits-Available-For-Senior-Citizens-Seven-7-Tax-Benefits-Available-For-Indian-Senior-Citizens.jpg","width":1586,"height":887,"caption":"Benefits Available For Senior Citizens Seven (7) Tax Benefits Available For Indian Senior Citizens"},{"@type":"BreadcrumbList","@id":"https:\/\/rakshithpai.com\/senior-citizens-tax-benefits\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/rakshithpai.com\/"},{"@type":"ListItem","position":2,"name":"Benefits Available for Senior Citizens:\u00a0Tax &#038; Investment"}]},{"@type":"WebSite","@id":"https:\/\/rakshithpai.com\/#website","url":"https:\/\/rakshithpai.com\/","name":"","description":"Save - Invest - Repeat","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/rakshithpai.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/rakshithpai.com\/#\/schema\/person\/5a10929466befdcdb3013e5341aeb693","name":"Rakshith Pai","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/rakshithpai.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/34b7459182e8fb8b80ca20098eb1e8a9?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/34b7459182e8fb8b80ca20098eb1e8a9?s=96&d=mm&r=g","caption":"Rakshith Pai"},"description":"An Investor, Entrepreneur by profession, and an Economist (Monetarist) by passion. Professional Investor in Equities and other assets. Here to spread the concept of \u201cSane Investing\u201d.","sameAs":["https:\/\/rakshithpai.com","https:\/\/www.facebook.com\/Iam.Mrpai","https:\/\/www.instagram.com\/iam_mrpai","https:\/\/www.linkedin.com\/in\/iam-mrpai","https:\/\/in.pinterest.com\/Iam_MrPai","https:\/\/x.com\/Iam_MrPai","https:\/\/www.youtube.com\/channel\/UC3vfc8G1sysZleCAKbytRFQ?view_as=subscriber"],"url":"https:\/\/rakshithpai.com\/author\/mrpai27\/"}]}},"uagb_featured_image_src":{"full":["https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/04\/Benefits-Available-For-Senior-Citizens-Seven-7-Tax-Benefits-Available-For-Indian-Senior-Citizens.jpg",1586,887,false],"thumbnail":["https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/04\/Benefits-Available-For-Senior-Citizens-Seven-7-Tax-Benefits-Available-For-Indian-Senior-Citizens-150x150.jpg",150,150,true],"medium":["https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/04\/Benefits-Available-For-Senior-Citizens-Seven-7-Tax-Benefits-Available-For-Indian-Senior-Citizens-300x168.jpg",300,168,true],"medium_large":["https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/04\/Benefits-Available-For-Senior-Citizens-Seven-7-Tax-Benefits-Available-For-Indian-Senior-Citizens-768x430.jpg",768,430,true],"large":["https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/04\/Benefits-Available-For-Senior-Citizens-Seven-7-Tax-Benefits-Available-For-Indian-Senior-Citizens-1024x573.jpg",1024,573,true],"1536x1536":["https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/04\/Benefits-Available-For-Senior-Citizens-Seven-7-Tax-Benefits-Available-For-Indian-Senior-Citizens-1536x859.jpg",1536,859,true],"2048x2048":["https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/04\/Benefits-Available-For-Senior-Citizens-Seven-7-Tax-Benefits-Available-For-Indian-Senior-Citizens.jpg",1586,887,false],"web-stories-poster-portrait":["https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/04\/Benefits-Available-For-Senior-Citizens-Seven-7-Tax-Benefits-Available-For-Indian-Senior-Citizens-640x853.jpg",640,853,true],"web-stories-publisher-logo":["https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/04\/Benefits-Available-For-Senior-Citizens-Seven-7-Tax-Benefits-Available-For-Indian-Senior-Citizens-96x96.jpg",96,96,true],"web-stories-thumbnail":["https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/04\/Benefits-Available-For-Senior-Citizens-Seven-7-Tax-Benefits-Available-For-Indian-Senior-Citizens-150x84.jpg",150,84,true]},"uagb_author_info":{"display_name":"Rakshith Pai","author_link":"https:\/\/rakshithpai.com\/author\/mrpai27\/"},"uagb_comment_info":0,"uagb_excerpt":"Introduction: Whether we like to admit it or not, we all worry about the future and make substantial decisions to save and invest money in order to provide for a comfortable retirement.\u00a0 Many of our current activities contribute not just to our own development but also to the country&#8217;s overall progress. However, when we do&hellip;","_links":{"self":[{"href":"https:\/\/rakshithpai.com\/wp-json\/wp\/v2\/posts\/7876"}],"collection":[{"href":"https:\/\/rakshithpai.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rakshithpai.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rakshithpai.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/rakshithpai.com\/wp-json\/wp\/v2\/comments?post=7876"}],"version-history":[{"count":3,"href":"https:\/\/rakshithpai.com\/wp-json\/wp\/v2\/posts\/7876\/revisions"}],"predecessor-version":[{"id":7990,"href":"https:\/\/rakshithpai.com\/wp-json\/wp\/v2\/posts\/7876\/revisions\/7990"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rakshithpai.com\/wp-json\/wp\/v2\/media\/7877"}],"wp:attachment":[{"href":"https:\/\/rakshithpai.com\/wp-json\/wp\/v2\/media?parent=7876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rakshithpai.com\/wp-json\/wp\/v2\/categories?post=7876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rakshithpai.com\/wp-json\/wp\/v2\/tags?post=7876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}