Income Tax Benefits for Senior Citizens Telugu | Tax deductions for Senior Citizens | Rapics Telugu

In this video, let’s understand about income tax benefits for senior citizens in telugu. In Income Tax Act, there are certain tax deductions for senior citizens which will help them to save some additional tax. They are
Benefit of Higher Basic Exemption Limit
Standard deduction for pension
Exemption for Advance Tax applicability (Sec 208)
Medical Insurance premium deduction under sec 80D
Deduction for specified diseases under sec 80DDB
Deduction for Interest on deposits under sec 80TTB
TDS on Interest income under sec 194A
Paper ITR/Off-line ITR
Exemption from ITR filing under sec 194P

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⌚Timestamps:
00:00 Introduction
01:26 Basic Exemption Limit
02:04 Standard Deduction for Pension
02:17 Advance Tax
03:04 Medical Insurance Premium
04:23 Deduction for Specified Disease treatment
04:50 Interest on Deposits
05:46 TDS on Interest
07:05 Offline ITR Filing
07:26 NO ITR Filing

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