hi frnds,

i would like to know more abt the benefits which we as a senior citizen gets in india..i know some which i have noted down ..please write if you know more.. 
Concessions and benefits available for senior citizens in India:

• Those who are 65 and above are permitted to pay tax of upto Rs.10000 less than the others. This is by way of a special tax rebate eligible to them. This rebate will, from next year, be enhanced to Rs.15000. Thus, if the tax works out to above Rs.15000, one would deduct Rs.15000 and pay only the balance amount as tax. That is an attractive rebate.
• Individuals aged 65 years and above(senior citizens), not engaged in any business or profession will not be required to file a return even if they meet the criteria on ownership of immovable property or subscription of a telephone. However, they will have to file a return under the scheme if they fulfil any of the other four criteria. 
• Concessions are available for both air travel and rail travel for senior citizens in India.
  (SeniorIndian.com will soon provide information on the details about these concessions)
• There are many other concessions and benefits for the less privileged elders, for eg; On February 27, 1999, Finance Minister Yashwant Sinha, while presenting the Budget 1999-2000 in the Lok Sabha, announced the launch of a new scheme 'Annapurna' which aims at providing food security to senior citizens who have no income of their own and no one to take care of them in their village. The scheme will provide 10 kg of foodgrains per month free of cost to all indigent senior citizens, who are eligible for old age pension but are presently not receiving it and whose children are not residing in the same village. The number of persons benefiting from the scheme will not exceed 20 per cent of the old age pensioners within a particular state. The gram panchayat will be required to identify, prepare and display a list of such persons after giving wide publicity.
  While such schemes maybe helpful in a small way, much is to done for the welfare of the senior citizens.

(i also advised to consult Chartered Accountants or Income Tax Offices on the correctness and latest updates regarding these concessions)

Deductions available to senior citizen .

A person becomes senior citizen under Income Tax Act in any year after attaining the age of 65 even for one day. Once he attains 65 years, his status as senior citizen in that financial year , gives him some relief .There are not many . These are listed below:

1. Higher Exemption Limit

For FY2008-09, basic exemption limit for tax is fixed at Rs 2,25,000. Therefore, any Sr. citizen having total income till 2,25,000 for Fy 2008-09 , will not have to pay any tax .

2. Reverse Mortage for senior citizens
Reverse mortgage' - a concept introduced by Finance 2007 -provides that a senior citizen will be able to avail of monthly income streams by mortgaging a house owned by him. However, this scheme is yet to materialize.

3. Tax Benefits on medical insurance hiked

A senior citizen can avail of higher of higher deduction of Rs 20,000 u/s Section 80D.

4. Higher Deduction u/s 80DDB

Section 80DDB provides deduction to an assessee in case of expense on medical treatment of specified ailments.Generally this deduction is available upto Rs 40,000 . However , if the patient is a senior citizen, then deduction of Rs 60,000 is allowable.

5. No TDS on earning of interest below Rs 10,000

From 1/6/2007 , the interest paid to a senior citizen shall be subject to TDS only if interest paid u/s 194A exceeds Rs 10,000. The said interest should be paid or credited under Senior Citizen Saving Scheme or by co-operative.

Government of India has earmarked special benefits and concessions for Senior Citizens of India. Here is a brief compilation of same for your ready reference :

(1) Court cases involving senior citizens
The Chief Justice of India has advised Chief Justices of all High Courts to accord priority to cases involving older persons and ensure their expeditious disposal. [vide letter of Government of India, Ministry of Social Justice & Empowerment (SD Section), New Delhi, F. No. 20-76/99-SD dated 03.11.1999]

(2) RTI Act (Right to Information Act)
Second appeals filed by senior citizens and differently abled persons under the Right to Information Act (RTI) are taken on a high priority basis, according to a directive of the Central Information Commission (CIC).

For, senior citizens and physically challenged if appeals are already pending with the CIC/SCIC, they should write to the CIC/SCIC about their status.

(3) Health Care

(a) There is provision for separate queues for senior citizens at hospitals and health care centres when they visit for any health related concerns or clinical examinations.

(b) The Delhi Government runs special clinics for Senior Citizens in most of its hospitals in Delhi.

(4) Finance & Taxation

(a) You are advised to refer to the Indian Income Tax Department for the current slabs of Income Tax including rebate admissible to senior citizens. As per recent finance budget 2008-09 (presented on 29th February, 2008) the threshold income when you start paying tax stands at Rs. 2.25 lakh per annum for senior citizens.

(b) The benefit of Section 80C of the Income Tax Act, 1961 has been extended to the investments made under 5-Year Post Office Time Deposits Account and Senior Citizens Savings Scheme, with effect from 01.04.2007.

(5) Banking

(a) Government also gives a higher rate of interest to senior citizens on certain Savings schemes which it runs through its large network of Post Offices (Senior Citizens Savings Scheme) and Public sector Banks. For further details you are advised to contact your nearest Bank or local Post Office.

(b) Some banks like State Bank of India charge only 50% of the applicable prescribed charges in respect of following services:

i) Issue of duplicate passbook/statement of account
ii) Issue of cheque books,
iii) Noting of standing instructions,
iv) Stop payment instructions,
v) Charges of non maintenance of minimum balance,
vi) Issue of balance certificate,
vii) Signature verification,
viii) Ledger folio charges
ix) Minimum balance requirement is also 50% for these class of customers.

Please check with your nearest Bank on what special facilities exist for Senior Citizens and Pensioners. 

(6) Telecommunications

(a) Department of Telecommunications has made special provisions for senior citizens who apply for a new telephone connection. The department has earmarked separate priority category for senior citizens wherein they can apply for registration.

(b) In case of any complaint or fault with the telephone a senior citizen’s complaint is redressed on a priority basis.

(c) MTNL (Delhi) gives 25% discount in rentals (Tariff Plan-250 only) and installation to Senior Citizens who are 65 years or above in age. Please submit proof of age when applying to MTNL for availing this concession. Application form  for a new connection (MTNL Delhi) in senior citizen category is available here.

(d) MTNL (Mumbai) has a Non-OYT-Special category for Senior Citizens aged 65 years or above.  To apply for a new connection in Mumbai, senior citizens can fill this application form. Whereas to avail senior citizen concession on an already existing telephone connection (MTNL Mumbai) this application form needs to be filled in.

Kindly note that these filled in forms are to be submitted to the MTNL offices in your city or sanchar haat. In case of any specific query you may also call toll free MTNL Help line 1500 from any MTNL number.

(e) BSNL:  I did not find any scheme with BSNL where concessions were admissible to senior citizens. I hope BSNL would consider such rebates soon.

(7) Travel by Indian Railways

(a) Travel by Indian Railways is 30% cheaper for all Senior Citizens who are 60 years in age or above. Indian Railways provides this fare concession to elderlies in all its trains including Shatabdi, Rajdhani and Jan Shatabdi trains. Kindly note that while travelling all Senior Citizens need to carry proof of their Date of Birth / Age with a Photo ID Card.

(b) There are separate Counters / Queues for Senior Citizens at all Railway Stations for purchase, booking or cancellation of tickets.

(c) Special arrangements are available for those who find it difficult to walk or move on their own. Wheel Chairs are available at all major junctions, District Headquarters and other important Railway stations for the convenience of Senior citizens and also for those who are in need.

(d) Indian Railways have recently introduced specially designed coaches which have provisions for hand rails and specially designed toilets for handicapped persons. These coaches also have space for wheel chairs.

(8) Travel by Airlines

(a) Senior Citizens are entitled to 50% discount on Economy Class fares on all flights of Indian Airlines subject to certain conditions.

(b) Air India gives 45% discount in economy class on domestic sectors to senior citizens (women aged 63+ and men aged 65+).

(c) Other Airlines operating in India also offer discounts to senior citizens. It is advisable to check with them before you plan your travel.

(9) Travel by Roadways (state transport)

(a) State Road Transport Undertakings have made provision for senior citizens for reservation of 2 seats in the front row of all buses.

(b) Some state governments also give concessions (in fare) to senior citizens, while some also have specially modelled buses for the elderlies.

(10) Law (Legislations)

Maintenance & Welfare of Parents and Senior Citizens
Indian Government has recently enacted a law for welfare of elderlies (senior citizens and parents). This law creates provisions for maintenance, protection and security of elders.
Download a copy of the Act
What was the need for this law ? (Statement of Objects and Reasons)

I shall keep updating this post as and when I am able to collect new information.

• Investing in a senior citizen's name can result for the higher tax exemption one enjoys.
• Certain investments offers higher return to senior citizens.
• Through gifts made to a senior citizen, investment can be made.
• Tax-free investments can be made in the name of any family member.
• A self-occupied house should be bought in the name of the member in the highest tax bracket.
• A salary earner can reduce his tax by paying rent to the family member owning the house.

There are different considerations while planning of family investments. They are as follows:

• Choosing the right member's fund for investments.
• Availability of the concessions on the initial investment and the returns.
• The tax liability of such earnings.
• Taxability of sums received on maturity.
• Capital generation needs of each member.
• The age of the investor.

Investment made in the name of Senior Citizens

• Higher basic exemption limit and increased rate of return.
• Rs. 2.25 lakh is exempt from tax (F.Y. 2008-09).
  
• With investment or utilising, a senior citizen may not pay tax up to Rs. 2.85 lakh.
• Certain investment schemes offer higher rates of return or are open for senior citizens. Investing in these increases the earnings of the family.
• Funds for a senior citizen can be generated by gifts from a high net worth member. It would not suffer tax.
• The earnings are reinvested to increase income in the subsequent years.

Note:- A donor legally divests the title to the property in favour of the recipient by the way of gift, so he/she cannot have any claim to the property thereafter.

Tax-exempt Investment
It can be made in the name of any member but one should keep in mind to make it through such member whose chance of falling in the highest tax bracket is the least in the long run. It can be made in the name of minor so that parents does not have to pay the tax even after clubbing.

Concessional Tax Treatment
Certain investments attract tax concessions, like short-term capital gains on the transfer of shares through recognised stock exchanges. It is taxed only at 10% flat. Investment on shares can be made in any members name as it do not result in any differential tax outflaw.

Investment on Business Premises
An investment can be made in office/ business premises in the name of a member who is not the proprietor of the business. Take an example, a person carrying a retail business can buy a shop in the name of another member and then take it on rent. The rent paid is tax-deductible. The rent earned by the member of the family paying lesser or negligible tax suffers lesser tax than the tax paid by the owner of the business.

Salary Earners and HRA
A salary earner can reduce tax liability by paying rent to a member of his family who owns his house in which the former resides, provided the member falls in lower tax bracket. But before practising this one must take into consideration the place where the house is located, the local laws on letting out property on rent, like stamp duty, registration charges, leave and license agreements. The rent should be perfectly paid by cheque and on regular basis through the year to prove authenticity of the transaction.

Joint Ownership of a Residential House
In case of joint ownership where the shares are in an agreed ratio, each co-owner's share of the income from the property will be included in his/her total income while filing returns. While taking loans, the co-owner can take in any ratio, irrespective of the sharing ratio. Hence, it is beneficial for the person in higher tax bracket to borrow more. It helps him/her to save more tax on interest deductions.

Owning House Property
A self-occupied house should always be bought by the person with highest tax bracket. This will not fetch any return and the fall in his investible surplus will reduce his future income and future tax liability. Investment made in the name of Senior Citizens

• Higher basic exemption limit and increased rate of return.
• Rs. 2.25 lakh is exempt from tax (F.Y. 2008-09).
• With investment or utilising, a senior citizen may not pay tax up to Rs. 2.85 lakh.
• Certain investment schemes offer higher rates of return or are open for senior citizens. Investing in these increases the earnings of the family.
• Funds for a senior citizen can be generated by gifts from a high net worth member. It would not suffer tax.
• The earnings are reinvested to increase income in the subsequent years.

Note:- A donor legally divests the title to the property in favour of the recipient by the way of gift, so he/she cannot have any claim to the property thereafter.

Tax-exempt Investment
It can be made in the name of any member but one should keep in mind to make it through such member whose chance of falling in the highest tax bracket is the least in the long run. It can be made in the name of minor so that parents does not have to pay the tax even after clubbing.

Concessional Tax Treatment
Certain investments attract tax concessions, like short-term capital gains on the transfer of shares through recognised stock exchanges. It is taxed only at 10% flat. Investment on shares can be made in any members name as it do not result in any differential tax outflaw.

Investment on Business Premises
An investment can be made in office/ business premises in the name of a member who is not the proprietor of the business. Take an example, a person carrying a retail business can buy a shop in the name of another member and then take it on rent. The rent paid is tax-deductible. The rent earned by the member of the family paying lesser or negligible tax suffers lesser tax than the tax paid by the owner of the business.

Salary Earners and HRA
A salary earner can reduce tax liability by paying rent to a member of his family who owns his house in which the former resides, provided the member falls in lower tax bracket. But before practising this one must take into consideration the place where the house is located, the local laws on letting out property on rent, like stamp duty, registration charges, leave and license agreements. The rent should be perfectly paid by cheque and on regular basis through the year to prove authenticity of the transaction.

Joint Ownership of a Residential House
In case of joint ownership where the shares are in an agreed ratio, each co-owner's share of the income from the property will be included in his/her total income while filing returns. While taking loans, the co-owner can take in any ratio, irrespective of the sharing ratio. Hence, it is beneficial for the person in higher tax bracket to borrow more. It helps him/her to save more tax on interest deductions.

Owning House Property
A self-occupied house should always be bought by the person with highest tax bracket. This will not fetch any return and the fall in his investible surplus will reduce his future income and future tax liability.

Would like to have a copy of the circular by Govt. of India, Ministry of Communications, Department of Telecommunication, New Delhi N0.11/99 and 

and 1-12/99 PHA dated 5.10.1999 = TELEPHONE CONNECTION TO SENIOR CITIZEN

AND

Govt. of India, Ministry of Social Justice & Empowerment (SD Section), New Delhi F. N0.20-76/99 SD dated 3.11.1999 = EXPEDITIOUS DISPOSAL OF COURT CASES INVOLVING SENIOR CITIZENS.

THANKS.