Seniors must not be burdened with tax filing

The cover story Five smart ways to file tax returns was useful and informative. Filing returns, especially
with the kind of online tools available now, may not be very difficult. Some portals make it very easy: all you
have to do is upload Form 16 and other investment documents and the portal takes care of everything else,
from filing and sending the ITR V to tracking refunds for the IT department. However, at times, to get the
maximum benefits, professional help can save us a lot of time and effort. But, I feel, senior citizens should not
be forced to go through this ordeal every year because most clauses required for filing returns are irrelevant
to them. Taxpayers above 70 years should not be under the income tax ambit.
S P Gupta, Hyderabad
Readers response, online and in print, to ET Wealth stories has been
overwhelming and enlightening. We pick some that add information
and perspective to our articles from previous issues.
Tax exemptions
versus deductions
The cover story was excellent and
provided good advice to the
readers. Just to add, many people
get confused about the difference
between exempt income and
deductions. Incomes described in
Section 10 of the Income Tax Act
are exempt income, including
dividends from shares of a
company, maturity proceeds from
a life insurance policy and maturity
amount of Provident Funds. On the
other hand, sums excludable in
terms of Sections 80C, 80G and
80D, among others, are deductions
made from taxable income of an
individual.
Gururaj B Narayan, Bengaluru
Save more with
online shopping
The story 10 strategies to combat
inflation was interesting, but
implementing all of these ideas may
not always be easy . While the
suggestions regarding saving
money on shopping are good, the
best option will be to avoid visiting
departmental stores. Make a list of
items you need to buy and either
order online or over the phone if
you have the option. This will not
only help you avoid impulsive
buying at departmental stores, but
will also help you cut on commute
expenses.
Anjika, Delhi
Keep a close watch
on rail infra stocks
The story Time to sell or buy rail
infra stocks? analyses the sector
well and raises pertinent points to
ponder over. Railway infrastructure
tops the chart when it comes to
extraordinary returns. During the
last three months, the Sensex has
generated 15% returns, while rail
infra stocks posted returns of more
than 100% during the same period.
I feel they have already priced in
the positive news expected from
the budget. Therefore, I would not
buy these stocks because valuations
are too high and do not justify the
performance of the sector.
However, neither will I sell my
holdings in rail infra stocks if I was
invested in lower PEs. In the long
run they might just do well.
Sabyasachi Samanta, Bengaluru
Need for government
push in agriculture
I enjoyed reading the article
Should you bet on agri stocks
now?. For agriculture to do really
well, the government must take
steps to ensure the farmers get the
right price for their produce and
not help them with subsidies. Farm-
ers remain at the bottom of the pyr-
amid because of doles that the gov-
ernments are ready to offer.
Instead, the state should help them
with setting up infrastructure and
encourage them to produce more
through the use of modern farming
techniques. The sector will benefit
immensely from these initiatives.
K Keerthevasan, Thuraiyur
BEST OF ARCHIVES
All these stories are available at
www.wealth.economictimes.com
wealth
THEECONOMICTIMES
Monday, June 16-22, 2014
www.wealth.economictimes.com
Add extra cover to your office mediclaim.
Ensure your parents medical needs are
insured. Read on to find out why you must look
beyond your employers health plan.
Paperwork can impact returns. Keeping
your paperwork updated is as intrinsic to finan-
cial planning as investment management and
asset allocation. Find out why.
Take your business online. An essential
aspect of promoting your business is to have a
strong presence on the Internet. We tell you
how to build, design and run your own website.
Income rise after retirement. Read this
article to find out how after retirement Ashok
Gangopadhyay cashed in on his experience to
earn more than his pre-retirement package.
LEARN & KEEP
FR
O
M
TH
E W
EB
Whats your score?
Banks are gradually
introducing risk-based
pricing of loans, which
means your credit history
can determine the interest
rate. Heres how you can
check your score.
YOUR FEEDBACK
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write to us at Times House, 7, Bahadur Shah Zafar Marg, New Delhi-110002
Note: The letters have been edited for grammatical errors and better reading.
MOST READ OF THE WEEK
The Learn & Keep section is available at
www.wealth.economictimes.com
Five smart ways to file tax returns. Filing tax
returns has become simpler, but most people still
find it cumbersome. Read this article to know
how you could do it on your own.
Should you invest in emerging market funds?
If you are well invested in Indian stocks and want
to diversify your portfolio, find out how emerging
market funds could throw up opportunities.
Should you bet on agricultural stocks now? If
the threat of a drought causes a correction in
agricultural stocks, use it to enter quality scrips
that have a strong track record of growth.
Is it time to sell or buy rail infra stocks? Ris-
ing railway infrastructure stocks could see a fall
after the railway budget is tabled. Find out if you
should buy them now.
The minimum age for receiving pension
differs across countries.
WHEN
WILL YOU GET
PENSION?
70 years
68 years
67 years
66 years
58 years
AUSTRALIA
FINLAND
DENMARK
US
60 years
CHINA INDIA
The Economic Times Wealth, July 7-13, 2014
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