4 years ago
Wanted: Empathy for citizens who must live off past savings
Live MintIn response to my column last Monday on the plight of India’s middle class, I received quite a few mails. Among those who contacted me was a 74-year-old Indian Institute of Technology alumnus who retired as executive director of one of India’s finest central public sector units. Till this year’s budget, there were higher minimum tax exemption limits for senior and very senior citizens — ₹ 2,50,000 for the general public, ₹3,00,000 for seniors and ₹5,00,000 for very seniors. Under OR, Mr Roy’s tax liability will be calculated thus: Gross income = ₹11,40,000. Even the cap on the Senior Citizens’ Savings Scheme has remained at ₹15 lakh since the day of introduction and the interest rate has come down to 7.1%.
India
Tax
Indian
Income
Senior Citizens
Roy
Senior
Lic
Taxable Income
Tax Liability
Mr Roy
wanted
citizens
500000
liability
lets
tax
savings
total
budget
senior
empathy
income
past
interest
live
250000
History of this topic
Trending News
1 month, 1 week ago
Income tax share from below ₹10 lakh group shrinks over 10 years, high earners dominate
Live Mint
Trending News
1 month, 1 week ago
It is time India started indexing tax slabs and exemptions with inflation
Live Mint
2 months ago
Income Tax Filers Exceed 2.3 Lakh, with High Majority Being Businesspersons and Professionals
Hindustan Times
5 months ago
Income tax benefits, capital gains tax hike, cheaper phones | Key Budget takeaways
Hindustan Times
1 year, 10 months ago
How taxes are calculated on salary above ₹7 lakh in new regime? A quick view
Live Mint
1 year, 10 months ago
Budget 2023: How the new tax regime is different from the existing one
Hindustan Times
1 year, 10 months ago
Budget 2023 | Those earning up to ₹7 lakh a year need not pay income tax
The Hindu
2 years, 10 months ago
Tax & investment tips for young earners
Live Mint
3 years, 10 months ago
Union Budget 2021 | Income tax calculator
The HinduDiscover Related
22 hours, 12 minutes ago
3 days, 15 hours ago
5 days, 13 hours ago
6 days, 14 hours ago
1 week ago
1 week ago
Trending News
1 week, 3 days ago
1 week, 3 days ago
1 week, 4 days ago
1 week, 4 days ago
1 week, 6 days ago
2 weeks, 3 days ago
2 weeks, 5 days ago
2 weeks, 6 days ago
2 weeks, 6 days ago
3 weeks ago
3 weeks ago
3 weeks, 1 day ago
3 weeks, 3 days ago
3 weeks, 5 days ago
3 weeks, 6 days ago
3 weeks, 6 days ago
4 weeks, 1 day ago
1 month ago
1 month ago
1 month ago
1 month, 1 week ago
1 month, 1 week ago
1 month, 1 week ago
1 month, 1 week ago
1 month, 1 week ago
1 month, 1 week ago
1 month, 1 week ago
1 month, 1 week ago
1 month, 1 week ago
1 month, 1 week ago
1 month, 1 week ago
1 month, 2 weeks ago
Trending News
1 month, 2 weeks ago
1 month, 2 weeks ago
1 month, 2 weeks ago
1 month, 2 weeks ago