The benefits available to senior citizens in India

The benefits available to senior citizens in India

Benefits

Growing old comes with its own set of challenges, but it also has its perks. In India, senior citizens can avail of a host of benefits that add to their convenience and ease their financial burden. Here are some of the most useful facilities available to them:

Inexpensive air travel: Air India offers a 50% concession for senior citizens on economy fare for domestic travel. This means that senior citizens can travel by air at half the cost, making it easier for them to visit their loved ones or explore new destinations.

Easier passport application: The passport application process for senior citizens is simpler than normal. This means that senior citizens can apply for a passport with less hassle and paperwork, making it easier for them to travel abroad.

Inexpensive railway travel: Men over the age of 60, and women over the age of 58 are eligible for 40% and 50% discount respectively on fares of all classes of Mail/Express/Rajdhani/Shatabdi/Jan Shatabdi/Duranto trains. This makes train travel more affordable for senior citizens, allowing them to travel comfortably without worrying about the cost.

Tax rebates: Senior citizens can benefit from income tax rebates. For example, income of up to ₹3 lakh is non-taxable for senior citizens, while for super senior citizens (over 80 years of age), income of up to ₹5 lakh is non-taxable. This means that senior citizens can keep more of their hard-earned money and use it to enjoy their golden years.

Discounts on health insurance premiums: Senior citizens can get higher deductions on health insurance premiums under Section 80D of the Income Tax Act. For AY 2021–22, the maximum limit for deduction u/s 80D in respect of payment made for health insurance premium in respect of a senior citizen has been allowed at ₹50,000 as against that allowed to other individuals at ₹25,000 . This means that senior citizens can save money on their health insurance premiums, making it easier for them to afford quality healthcare.

In conclusion, being a senior citizen in India comes with many benefits that can make life easier and more enjoyable. From inexpensive travel to tax rebates and discounts on health insurance premiums, there are many perks available to seniors in India.

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