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Times of India
17 March 2012

While out distributing relief to the salaried, Pranabda made a few pitstops to give senior citizens a fistful of reasons to celebrate. The finance minister announced on Friday that senior citizens will no longer be required to pay advance tax if they are not running “a business/profession”. Along with this, he increased the deduction against the premium paid to buy medical insurance to Rs 20,000 from the earlier Rs 15,000.

Health Check-Up Exemption A Shot In The Arm For Aged

The second change will help save the elderly an additional amount of Rs 1,500 if their income falls in the highest tax slab. And the first will help in reducing the compliance

burden on senior citizens. The finance minister also increased the deduction for medical treatment of a senior citizen to Rs 60,000 from Rs 40,000. And while at it, he allowed a tax exemption of up to Rs 5,000 for preventive health check-ups.

Dr Pratap Reddy, CMD of Apollo Hospital, hailed the exemption for health checks, saying it will encourage early detection of diseases—particularly cancer, heart ailments and diabetes, which are on the rise—and help trim down the expense burden.

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