Senior citizens expect that more room should be given for senior citizens in tax rebate.
Zee Media Bureau
New Delhi: Be it tax exemption, hiking the transport allowances, increasing the rebate cap on home loans, giving subsidies to farmers or addressing the issue of women's and senior citizens' taxation, the decision of the Finance Minister will be closely watched by one and all.
Senior citizens expect that more room should be given for senior citizens in tax rebate. An increase in the exempted limit for the senior citizens ( above 60 years), which currently stands at Rs 300,000 to at least Rs 400,000 would give a boost to their retirement funds.
Similarly, very senior citizens (above 80 years) who do not come under tax bracket for earnings up to Rs 5 lakh are also expecting a further increase in the exemption limit.