What is the tax liability of a senior citizen's income from SWPs?

Weekly Tax Queries with LiveMint:

 

If the person is a resident Indian senior citizen with a net total income of up to ₹5 lakh, she would be eligible for rebate under section 87A of the IT Act.

 

Dr. Suresh Surana, Founder, RSM India, explains the tax liability of a senior citizen's income from Systematic Withdrawal Plan (SWP).

 

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