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ASSOCHAM suggests tax sops for senior citizens


New Delhi

Industry body ASSOCHAM has advocated tax measures to benefit senior citizens in the Union Budget, to be presented on July 5 by Finance Minister Nirmala Sitharaman.

The Associated Chambers of Commerce and Industry of India (ASSOCHAM) in its budget memorandum has suggested increase in minimum tax exemption limit for senior citizens (above 60 years) to Rs 7.5 lakh from Rs 3 lakh and no tax for super senior citizens (80 years plus) on income up to Rs 12.5 lakh.  It said many senior citizens couldn’t get benefit of any robust social security or pension fund investments as they did not exist during their working life and were largely dependent on interest income from fixed deposits.

Drastic decline in the rate of interest in past one year had left senior citizens in financial difficulty, it said and added, the actual inflation that was much higher than headline inflation had added to their misery.

Also, medical expenses shoot up heavily in old age as persons covered by mediclaim insurance policies had to cough up high insurance premia after one or two claims, it said.

It also suggested against tax deduction at source (TDS) from payment of interest to senior citizens.

Amazon launches India’s second largest delivery station in HyderabadHyderabad, Jun 19 (UNI) E-commerce giant, Amazon launched India’s second largest delivery station here on Wednesday.   

The New station will power Amazon’s last-mile delivery capabilities to speed up deliveries for customers in the Ranga Reddy district of Hyderabad.    

Speaking to newsmen on the occasion, Prakash Rochlani, Director, Last Mile Transportation, Amazon India said, “This station is the Telangana’s largest delivery station spreading 20,000 square feet. At present Amazon has 90 own delivery stations across the state. Of them 12 were in Hyderabad, he added.    

Apart from this, Amazon has more than 2500 ‘I Have Space’ delivery partners in the state to serve thousands of customers in Telangana”.   

“The expansion of the delivery network would enable Amazon to penetrate further into smaller towns across Telangana and have a direct delivery presence in more than 500 pin codes of the State, with a significant number of customers now being able to enjoy one-day and two-delivery promises, he added.    

Stating that Amazan has 700 plus Service Partner Stations and about 200 Amazon operated delivery stations across the country, Prakash said Amazon has largest delivery station spreading about 26,000 square feet in  Bengaluru.   

Jayesh Ranjan, Principal Secretary of the Industries & Commerce (I&C) and Information Technology (IT) Departments of the state government, who, inaugurated the delivery station congratulated the Amazon for launching  Telangana’s largest delivery station in Hyderabad.    

“The technology and infrastructure support available in Telangana in collaboration with the industry provides for a better future for our youth. Amazon’s investment and commitment will further strengthen the technology and skilling infrastructure in the state, he said and added that it continues to be a preferred choice for the companies’’.

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