What Is The Tax Liability On Gifts Received?
Seniors may receive gifts from children for their cash flow and other needs, and here’s the taxability.
Want To Gift Ancestral Gold To Your Kin Or Sell It For Cash? Know The Taxation
If you plan to gift your inherited gold jewellery or sell it for some cash flow in your retirement years, then here are the taxation aspect and the capital gains tax provisions you need to be aware of
Six Special Income Tax Benefits For Senior And Super Senior Citizens
Senior citizens and super senior citizens have some special income tax benefits available to them under the Income Tax-act, 1961.
3 Points That You Must Consider When Investing To Save Taxes
Investing for a tax-saving purpose need not be a last-minute activity. Senior citizens can't afford to make a mistake in their tax-saving exercise. Understanding various options, selecting the right one, and putting in an appropriate amount should be the outcome of a well-thought-out plan.
Tax Considerations When Downsizing: Tips For Senior Citizens Selling Their Homes
Downsizing your home can be a smart financial move for senior citizens looking to boost their retirement savings. However, navigating the tax implications can be challenging. Here are some tax recommendations for elderly people.
Do Senior Citizens Need To File Income Tax Returns?
Anybody earning more than the exempted income tax is required to pay tax and file their income tax return. But, senior citizens, under certain conditions, may ask for an exemption from filing their tax returns