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Senior citizens: Strike a balance between tax saving and liquidity

They must also maximise the utilisation of the higher deductions available to them

Topics
senior citizens | Financial planning | Tax Saving

Bindisha Sarang  |  Mumbai 



life expectancy, old age, senior citizens, pensions, insurance
A senior citizen can claim deduction of up to Rs 1 lakh on expenditure for the medical treatment of specified diseases

The government offers several benefits to senior (60-80 years of age) and very (above 80 years) in the matter of income- (I-T). Such benefits come either in the form of enhanced deductions or relaxations in tax-filing procedures.

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First Published: Tue, January 19 2021. 06:10 IST

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