Senior Citizen Law

To ensure proper maintenance of parents and senior citizens, the Government of India created a new Act titled: The Maintenance and Welfare of Parents and Senior Citizens Act of 2007. Under this Act, children and property hirers must take care of the maintenance of their parents/senior citizens. The purpose of enacting this Act was to fulfill the gaps in the Section 125 of Code of Criminal Procedure, 1973.

Indian laws have always aimed to benefit the society. The Indian legislature has enacted several beneficial Acts such as The Criminal Procedure Code, 1973, The Hindu Marriage Act, 1955, The Divorce Act, 1869 and The Hindu Adoptions and Maintenance Act, 1956 and many more, for providing maintenance to the uncared for spouses, children, sons and daughters and parents as well.

Individuals who have attained 65 years are judged as senior citizens in India for taxation purposes. This segment enjoys a high tax exemption limit, which is Rs.2,40,000 for the assessment year 2010-2011. This implies that a senior citizen is only liable to pay taxes when his/her income exceeds this level.

Income tax has been the most important topic of deliberation since the announcement of the Union Budget by current Finance Minister Pranab Mukherjee. On hindsight, the scenario looks favorable for the middle class, promising a windfall of savings through widened tax slabs.