Age limit for senior citizen

This query is : Resolved

RUPESH DESHMUKH (Querist)
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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?

CA Mayur Todmal

CA Mayur Todmal (Expert)
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19 April 2018 Must be of the age of 60 years or above at any time during the year

Rupesh Jain

Rupesh Jain (Expert)
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19 April 2018 its will be 60 years.

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RAJA P M

RAJA P M (Expert)
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19 April 2018 No... 58 year Old is not considered as Senior Citizen... Only 60 and above.

RUPESH DESHMUKH

RUPESH DESHMUKH (Querist)
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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