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13 years ago
I think senior citizen get all those benefits as after a certain age the no more earn a regular income but depend either on their savings or children. Don't think all senior citizens are retired government employs who earn a good income even after retirement.
It is right that all senior citizens are not retired. The income tax depends on income. The tax should be based on income and not age of the assessee. If a senior citizen earns less, he will be taxed less based on low income. There appears no reason why a young person should pay tax more on same income. Moreover, junior citizens have more family liability than a senior. In fact, younger ones need financial help and the seniors more respect and comforts.
G. K. Ajmani Tax consultant
http://gkajmani-mystraythoughts.blogspot.com/
13 years ago
I think senior citizen get all those benefits as after a certain age the no more earn a regular income but depend either on their savings or children. Don't think all senior citizens are retired government employs who earn a good income even after retirement.
It is right that all senior citizens are not retired. The income tax depends on income. The tax should be based on income and not age of the assessee. If a senior citizen earns less, he will be taxed less based on low income. There appears no reason why a young person should pay tax more on same income. Moreover, junior citizens have more family liability than a senior. In fact, younger ones need financial help and the seniors more respect and comforts.
@Gulshanji
You are bang on! All these concessions are hogged by the richer sections and should be withdrawn. We can think of some other means to percolate the benefits to the vulnerable sections of our senior citizens.
Thank you said by: Gulshan Kumar Ajmani
13 years ago
I think senior citizen get all those benefits as after a certain age the no more earn a regular income but depend either on their savings or children. Don't think all senior citizens are retired government employs who earn a good income even after retirement.
It is right that all senior citizens are not retired. The income tax depends on income. The tax should be based on income and not age of the assessee. If a senior citizen earns less, he will be taxed less based on low income. There appears no reason why a young person should pay tax more on same income. Moreover, junior citizens have more family liability than a senior. In fact, younger ones need financial help and the seniors more respect and comforts.
yes of course...
Also, it should be noted that once a Senior citizen (if an employee) is retired, his income falls considerably and at most occasions, will come under tax benefit section. Am I not right?
Meera sandhu
13 years ago
I think senior citizen get all those benefits as after a certain age the no more earn a regular income but depend either on their savings or children. Don't think all senior citizens are retired government employs who earn a good income even after retirement.
It is right that all senior citizens are not retired. The income tax depends on income. The tax should be based on income and not age of the assessee. If a senior citizen earns less, he will be taxed less based on low income. There appears no reason why a young person should pay tax more on same income. Moreover, junior citizens have more family liability than a senior. In fact, younger ones need financial help and the seniors more respect and comforts.
yes of course...
Also, it should be noted that once a Senior citizen (if an employee) is retired, his income falls considerably and at most occasions, will come under tax benefit section. Am I not right?
If income falls, tax also falls and is zero if this is below Rs. two lakh. This is 2.5 lakh fr senior citizen 60 years to 80 years. Hence there appears no need to give concession to senior citizen in tax. If some senior citizens are fit to fun business or get employment, there is no reason why they not be taxed like others.
G. K. Ajmani Tax consultant
http://gkajmani-mystraythoughts.blogspot.com/
13 years ago
yes of course...
Also, it should be noted that once a Senior citizen (if an employee) is retired, his income falls considerably and at most occasions, will come under tax benefit section. Am I not right?
If income falls, tax also falls and is zero if this is below Rs. two lakh. This is 2.5 lakh fr senior citizen 60 years to 80 years. Hence there appears no need to give concession to senior citizen in tax. If some senior citizens are fit to fun business or get employment, there is no reason why they not be taxed like others.
yes, absolutely!
I have seen many retired persons doing some real estate or other businesses. But, they are not seen giving tax. But a regular employee (if private) has to give 33% to Government in the form of tax. Isn't it?
But for those old persons who are poor and not retired ones, many considerations can be given to them....(like concessions in railways(already given), special queues, also...some railway tickets can also reserved for old persons, in case of an emergency). Am I right?
Meera sandhu
13 years ago
yes of course...
Also, it should be noted that once a Senior citizen (if an employee) is retired, his income falls considerably and at most occasions, will come under tax benefit section. Am I not right?
If income falls, tax also falls and is zero if this is below Rs. two lakh. This is 2.5 lakh fr senior citizen 60 years to 80 years. Hence there appears no need to give concession to senior citizen in tax. If some senior citizens are fit to fun business or get employment, there is no reason why they not be taxed like others.
yes, absolutely!
I have seen many retired persons doing some real estate or other businesses. But, they are not seen giving tax. But a regular employee (if private) has to give 33% to Government in the form of tax. Isn't it?
But for those old persons who are poor and not retired ones, many considerations can be given to them....(like concessions in railways(already given), special queues, also...some railway tickets can also reserved for old persons, in case of an emergency). Am I right?
I agree with berth reservation for senior citizens and separate queues at banks, institutions etc. There should be better medical facilities also. I only do not favor financial benefits to the rich aged. Why Ratan Tata, Sonia Gandhi and Mulayam Singh be given tax concession?
G. K. Ajmani Tax consultant
http://gkajmani-mystraythoughts.blogspot.com/
Thank you said by: Sandhya Rani
13 years ago
Yes...absolutely.
It is really a nice suggestion that some train tickets may be reserved for senior citizens, also special seats and queues.
I think loans can be given to people under minor category with some concessions to start a small scale industry or small shops. It will really help such economically backward people. What is your opinion?
It is really a nice suggestion that some train tickets may be reserved for senior citizens, also special seats and queues.
I think loans can be given to people under minor category with some concessions to start a small scale industry or small shops. It will really help such economically backward people. What is your opinion?
Meera sandhu
13 years ago
A senior officer still comes under the net of IT even after his retirement. most times they are getting lo more pensions than they earned their last salary, 20 years after their retirement.
13 years ago
A senior officer still comes under the net of IT even after his retirement. most times they are getting lo more pensions than they earned their last salary, 20 years after their retirement.
Yes....my father in law and mother in law retired as teachers. Now they together get more than 40,000-45,000 per month as pension. Really nice, isn't it?
Meera sandhu
13 years ago
I agree they should be given more facilites financially as well as for other things as they deserve and its our responsibilty to take care of them.
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