19 April 2018
Sir, My query is can bank consider 58 years old person as a senior citizen for given a benefit of special interest rate on FD. If yes, is there any circular given by RBI or Income tax department regarding to this?. And any amendment has made in law?
20 April 2018
Sir, many of the govt. departments have adopted different age criteria for extending the benefits and the concessions meant for the elderly. Similarly, some private insurance companies have set different age limits," in the following link you find more details regarding to age limit. According to that basis can bank adopt the policy for consideration of 58 years old person as a senior citizen.
Read more at: //economictimes.indiatimes.com/articleshow/58326385.cms?from=mdr&utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst https://m.economictimes.com/news/politics-and-nation/government-to-ensure-60-year-limit-followed-for-senior-citizen-benefit/articleshow/58326385.cms
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