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Mar 19, 2012, 11.24 AM IST | Source: Moneycontrol.com

Pranab Mukherjee: Retired, senior citizens exempt from tax payments

Senior citizens and retired individuals have reason to celebrate after finance minister Pranab Mukherjee announced that they are exempt from tax payments.

Moneycontrol Bureau

Senior citizens and retired individuals have reason to celebrate after finance minister Pranab Mukherjee announced they will not have to pay advance tax if they have no business.

Deduction of upto Rs 10,000 on saving bank interest is definitely a positive for retired people who won't have to save small amounts henceforth.

Also, a reduction of Rs 5,000 for preventive health check up will benefit us greatly. Such benefits will make life easier.

All in all a Budget well appreciated by senior citizens.

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