Benefits Available for Super Senior Citizens

Written by Vidya Kumar

July 25, 2017

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Executive Summary: Super senior citizens i.e. people aged 80 years and above have some benefits and concessions in different areas which will help them financially and also save them some time and effort. They have been provided certain tax benefits like higher deductions, investment benefits like higher interest rates and also concessions and facilities in other areas like documentation and travel.

​A Super Senior Citizen is a person who is 80 years or above. They can avail of some benefits that offer convenience and some financial help.Let us look at these in detail –
Taxation Benefits

  • Super Senior citizens need not e-file their taxes. They can file in physical mode.
  • For a super senior citizen, income up to Rs. 5,00,000 is exempt from tax.
  • They need not link Aadhaar to PAN for filing taxes.
  • Deduction under Section 80DDB is up to Rs. 80,000 if suffering from critical illness.
  • Amount received in reverse mortgage loan is not considered as income and therefore not taxable.

Investment Benefits

  • Super senior citizens can fill Form 15 H for non-deduction of TDS on Interest on Fixed Deposit.
  • The Pradhan Mantri Vaya Vandana Yojana is a pension scheme for people above 60 years. It gives a fixed return of 8% p.a. payable monthly.
  • They get 0.5% higher interest rate on fixed deposits than the standard rate.

Travel Benefits

  • They are eligible for discounts on economy fare for domestic travel by air . In Air India, hey get a discount of 50% on the basic fare. Jet Airways gives 8% on the base fare as discount. SpiceJet is offering discount of 8% on the base fare till September 2017. But there are conditions which have to be adhered to in all these cases.
  • In rail travel, men above 60 get a 40% discount and women above 58 get 50% discount on tickets.
  • They are offered lower berth seats while booking tickets
  • Discounts available in different cities in public bus transport systems.

Other Benefits

  • There are separate Queues for the elderly in different places like hospitals and banks.
  • They get preference in court case hearings and passport office in the queue.
  • They get concessions in BSNL and MTNL telephone connection services.

Do take advantage of these facilities if you are a super senior citizen or you have super senior citizens at home for convenience and ease of financial burden. 

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