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Since 1st March, 1999
 
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Q&A
PAN query
I’m above 65 years of age. I was allotted a PAN GIR number while on service. I need to sell a jointly owned property now. Do I need an updated PAN card?
Manab Patra, Calcutta
 
You didn’t mention whether you have got the PAN card while in service. If you had got the same, it would suffice for any future references. You don’t need to apply for an updated PAN card afresh. A permanent account number once allotted remains the same for ever.
 
 
Claim deduction
Can a state government employee investing Rs 70,000 every year in a PPF account and Rs 30,000 in a GPF account claim deduction of Rs 1 lakh under section 80C?
A.C. Saha, Howrah
 
Yes, one can claim deduction under Section 80C of the investment amount of Rs 1 lakh from the total annual income.
 
 
No tax burden
I retired from a private company on health grounds and have since invested Rs 6 lakh in a joint post office monthly income scheme with my wife. We don’t have any other income apart from the monthly interest. Our monthly medical bill is Rs 4,500 on an average. What will be our tax liability?
Dhiman Roy, Salkia
 
Since your total annual income, which is the sum of the monthly interest income from the post office scheme, is less than Rs 1 lakh, you are not taxable. Neither do you have to file any annual returns for income tax purposes.
 
 
 
Date of birth
If a person’s date of birth is August 16, 1943, can he claim the basic exemption limit for senior citizens for financial year 2008-09 (assessment year 2009-2010)?
Niranjan Sarkar, Calcutta
ce the person will attain 65 years of age in August 2009, he will be eligible for the basic exemption limit allowed for senior citizens in financial year 2009-10.
 
If you have any queries about investing or taxes or a high-cost purchase you are planning, mail to: btgraph@abpmail.com, or write to: Business Telegraph, 6 Prafulla Sarkar Street, Calcutta 700 001.
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