Sep 21
What are some places where senior citizens can invest their retirement funds in India?
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nph asked:
What are some tax- saving bonds and funds where senior citizens(60 years) can invest? What financial instruments can they purchase so that their annual income doesn’t come in the taxable bracket? Thanks!
What are some tax- saving bonds and funds where senior citizens(60 years) can invest? What financial instruments can they purchase so that their annual income doesn’t come in the taxable bracket? Thanks!
One Response to “What are some places where senior citizens can invest their retirement funds in India?”
September 23rd, 2009 at 12:25 am
Investment options:
1. Senior Citizen Scheme
2. 5 year FD in P.O. or Bank.
3. MIS in P.O.
4. Debt Funds from M.F.s
5. NSCs
6. PPF
You need not worry about tax saving options because the non-taxable income limit is Rs 2,25,000/-
Your 2nd Q is un-intelligent. Let your annual income increase far beyound Rs 2,25,000/-. You will pay tax @ 10 or 20%, but the rest 80 to 90% after tax is yours to enjoy.
If you are asking about investments u/s 80C, then some of the options listed above are eligible.