https://www.taxtmi.com/news?id=19502 The budget increases the exemption of interest income on deposits for senior citizens and removes the TDS requirement for such interest, covering bank, post office, fixed and recurring deposits. It raises the cap on deductions for health insurance premiums and general medical expenditure for senior citizens and standardises a higher deduction limit for medical expenditure relating to critical illnesses. The government also extends the senior citizen assured-return scheme and raises its per-person investment ceiling, yielding a material tax benefit to senior citizens. en-us Thu, 01 Feb 2018 15:22:56 +0530 Thu, 01 Feb 2018 15:22:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=19502 The budget increases the exemption of interest income on deposits for senior citizens and removes the TDS requirement for such interest, covering bank, post office, fixed and recurring deposits. It raises the cap on deductions for health insurance premiums and general medical expenditure for senior citizens and standardises a higher deduction limit for medical expenditure relating to critical illnesses. The government also extends the senior citizen assured-return scheme and raises its per-person investment ceiling, yielding a material tax benefit to senior citizens. News - Thu, 01 Feb 2018 15:22:56 +0530 https://www.taxtmi.com/news?id=19502