Some of the tax exemptions available to Senior Citizens are on government pension, agriculture income ( from unprocessed products ) such as tea, rubber, coconut and cash crops, interest income on deposits made in state banks up to Rs. 2,00,000/- per annum. Interest from Treasury bills and Treasury Bonds, capital gains on sale of shares, lands and buildings and income from investments made in tax free ventures.
Investment can be made in financial institutes and quoted companies, where the interest income and dividends are subject to 10 % withholding tax which is the final tax and thereby tax liability is minimized.
Tax relief is available on interest paid on housing loans, capital repayments, life and medical insurance premium, donations given to government and approved charities etc., in addition to tax free allowance of Rs. 300,000/-
For Further Clarifications pls contact:
Sunrise Senior ( Pvt) Ltd
18,R.A.D Demel Mawatha
Colombo 5, Srilanka
Tel: +9477-352-9958
Fax + 94112507115
Email: info@ sunrise senior.net
Web: www.SunriseSenior.net
