Senior Citizens Are Ignored by PM
Headline in Economic Times 19th February 2024 “Niti Ayog Calls for Tax, Legal Reforms for Elderly”.
What is surprising is that PM is Chairman of Niti Ayog but is probably not informed by Vice Chairman about Anti Senior Citizen actions of NDA Government listed below:-
1. Existing facility of Senior Citizen Concession for train travel has been removed. In spite of numerous petitions to PM, Railway Minister and Ministry of Railways it is not restored. Even recommendation of Parliamentary Board to restore it have been ignored.
2. Senior Citizen Savings Scheme 2004 was started as Welfare Scheme to provide a regular income stream to retirees from Private Sector who donot get pension. Interest rate was 9% in 2004 which was increased to 9.3% in April 2015 to take care of inflation. In July 2015 it was reduced to 7.4%. After numerous petitions it is now 8.2% but still less than 9.3%. Interest income is taxable. Deposit limit was 15 lakhs per individual which is now increased to 30 Lakhs.
3. Senior Citizens who managed to own a home are burdened with 18% GST on their monthly contribution towards reimbursement of common expenses in Coop. Hsg. Society if it exceeds 7500. In large societies monthly maintenance expenses are more and increase manifold for painting, replacement of lifts etc. There was no service tax earlier. There should be no GST as Cooperative Housing Societies are not commercial or business entities which has been confirmed by various High Court and Supreme Court judgements.
Request Local Circles to bring this to kind attention of PM for relief to senior citizens. more
What is surprising is that PM is Chairman of Niti Ayog but is probably not informed by Vice Chairman about Anti Senior Citizen actions of NDA Government listed below:-
1. Existing facility of Senior Citizen Concession for train travel has been removed. In spite of numerous petitions to PM, Railway Minister and Ministry of Railways it is not restored. Even recommendation of Parliamentary Board to restore it have been ignored.
2. Senior Citizen Savings Scheme 2004 was started as Welfare Scheme to provide a regular income stream to retirees from Private Sector who donot get pension. Interest rate was 9% in 2004 which was increased to 9.3% in April 2015 to take care of inflation. In July 2015 it was reduced to 7.4%. After numerous petitions it is now 8.2% but still less than 9.3%. Interest income is taxable. Deposit limit was 15 lakhs per individual which is now increased to 30 Lakhs.
3. Senior Citizens who managed to own a home are burdened with 18% GST on their monthly contribution towards reimbursement of common expenses in Coop. Hsg. Society if it exceeds 7500. In large societies monthly maintenance expenses are more and increase manifold for painting, replacement of lifts etc. There was no service tax earlier. There should be no GST as Cooperative Housing Societies are not commercial or business entities which has been confirmed by various High Court and Supreme Court judgements.
Request Local Circles to bring this to kind attention of PM for relief to senior citizens. more
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View all 36 comments Below 36 comments
gov should provide discounts in train tickets, air freights , especially to non pensioners, and above 70 years to start with more
Apr 16
Segregating, Pensioner and Non Pensioner is a good idea. Thus atleast Non Pensioner will get some relief. more
Mar 12
Most of the Seniors have spent their whole life working in PSUs & govt organisations. They get a meagre amount as pension. As they don't want to take risk, they save it either in FDs or in Debit Funds. The interest rate does not increase, but they definitely have to pay tax on their savings interest. How are they supposed to survive on their meagre earnings if they are taxed even on their interest amount ? more
Mar 06
If a senior citizen is getting pension of Rs.70000.00 p.m. or more, why he should be offered higher FD rate ? Religious trips out of tax payers money should not be allowed. The politicians offering such mindless facilities should pay from their own pockets. more
Mar 03
