Retirement Income & Taxes:What Every Senior Citizen Should Know I Tax Free income For Senior Citizen

#SeniorCitizenTaxSavings #seniorcitizenincometax #seniorcitizentaxbenefits Tax Rates For Senior Citizens AY 25.26 FY 24.25 Tax Free income For Senior Citizen The Ultimate Guide to Tax-Free Income for Senior Citizens Retirement Income and Taxes: What Every Senior Citizen Should Know 🚀 🔥 Financial Freedom in Retirement: How Smart Tax Decisions Can Help 🚀 🔥 Top 20 Senior Citizen Tax Savings : Save Big This Year! 🚀 🔥 Tax Tips for Seniors: Boost Your Savings and Keep More of Your Income In this video I am going to cover Retirement Wealth Management, Senior Finance Tips, Budgeting for Seniors, Elderly Investment Strategies, Social Security Maximization, Estate Planning for Seniors, Downsizing for Financial Freedom, Healthcare Cost Management, Senior Citizen Tax Savings, Financial Independence in Retirement, income tax for senior citizens, income tax slab for senior citizens, senior citizen saving scheme, senior citizen saving scheme in post office, post office senior citizen scheme, senior citizen scheme, senior citizen post office scheme 2025, senior citizen fd rates, senior citizen saving scheme interest rate, senior citizen saving scheme new rates, itr filing for pensioners for ay 2024-25 Senior citizens in India can benefit from a number of income tax and investment options, including: • Higher exemption limit Senior citizens have a higher exemption limit for capital gains tax than non-senior citizens. For the financial year 2024-25, the exemption limit is Rs 3 lakh for senior citizens and Rs 5 lakh for very senior citizens. • Tax rebate Senior citizens with a taxable income of up to Rs 5 lakh can claim a tax rebate under the old tax regime. Under the new tax regime, the total income limit is up to Rs 7 lakh. • Pradhan Mantri Vaya Vandana Yojana (PMVVY) This government-backed pension scheme from the Life Insurance Corporation of India (LIC) offers a fixed pension for 10 years. Investors can invest up to Rs 15 lakh in the scheme. • Senior Citizen Savings Scheme (SCSS) This scheme offers a high interest rate on deposits and an income tax deduction of up to Rs 1.5 lakh under Section 80C of the Indian Tax Act. • Post Office Monthly Income Scheme (POMIS) This scheme from the Indian Post Office allows investors to invest a lump sum amount and receive a fixed interest. • Equity Linked Savings Scheme (ELSS) This tax-saving investment scheme offers the potential to earn higher returns than other tax-saving options. ===================================== Copyright Disclaimer under Section 107 of the copyright act 1976, allowance is made for fair use for purposes such as criticism, comment, news reporting, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favour of fair use. "This video includes copyrighted material from ET Money and Economic Times. The material is used for the purpose of commentary and criticism, which falls under the fair use doctrine of copyright law". "The content used in this video is intended for educational and informational purposes only". "Copyright @ Digital Finance Academy, 2024. Any illegal reproduction of this content will result in immediate legal action". ===================================== __________________________________________________________________________ ⚠️ DISCLAIMER: This video is for educational purpose only, please take the advice of your financial advisor before making any investments. The videos do not provide any advice/tips on Investment or recommend buying and selling any security. We neither take guarantee of profit nor stand responsible for any losses of any recipient. The recipients of this material should take their own professional advice and ensure its correctness before acting on this information. The recipient is advised to read the information & offer document carefully before doing any investment. We are not SEBI Registered. ===================================== Credits: • ET Money • Economic Times • Groww • PaytmMoney =====================================