NRI Senior Citizens- Tax and Interest

Rakesh Bansal 1
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  1. Are NRI Sr Citizens (over 60 yrs of age & Overseas Citizens of India ie OCI) eligible for benefits of resident Sr Citizens income tax rules/standard deductions/rebates/concessions etc or not?

  2. Are NRI Sr Citizens eligible for interest rates on Fixed Deposits similar to resident senior citizens which is higher then standard rate?.

I have tried and been unsuccessful to get answers from Reserve Bank, commercial banks, Income Tax Department, NRI Ministry and even PM's Secretariat and few other channels

Thanks a lot in advance for taking up these questions.

RAkesh Bansal

bank-interest senior-citizen nri income-tax
1 Answers
  1. Tax exemption limits for resident senior citizen won't apply to NRIs. So tax rules applicable to a normal non-senior citizen would apply.
  2. Normal bank fixed deposit rates are not applicable to NRIs. They have different rates under NRO, NRE and FCNR accounts.
Pankaj Batra5212
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