You need not pay even a rupee as tax if you’re over 65, earning a monthly income of around Rs 25,000 and if you’ve invested the mandatory Rs 1 lakh in instruments that qualify for tax exemption under Section 80C.
The investment requirement has been made easier to meet, since the Senior Citizen’s Savings Scheme now qualifies as a Section 80C investment.
| Click here to see your tax liability & savings depending on investments |
| Click here to see how you save on tax |
