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Azam Yusuf

Great news for seniors

Senior Citizens (above 75 years) who get pension and interest income only are exempted from filing returns more  

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View all 8 comments Below 8 comments
Bidyut Chatterjee (I am a retired Air Force Officer)
This means that those above 75 will have to continue to provide the necessary tax saving investment etc to banks to available Tax benefits. If however, the tax deduction is more than should be, the senior citizen will have to file ITR to claim the refund? more  
Jagannatha Rao
Of ourselves, this will create added unnecessary confusion to file a return to get refunds if any. Instead, it should be made optional to file a return on assessee's own choice, else it may construed that his IT return is not subject to scrutiny n refund. more  
Kamal Hans
Yes.
Also if they wish to claim deductions like for Health Insurance premiums etc more  
Jagannatha Rao
How does this exemption of filing the IT return help any way? more  
Kamal Hans
It does not help in any way.
Its an eyewash. more  
Anoop Kishore Bhatnagar
Dear Learned Readers......Kindly read between the lines about the exemption clause. Regards more  
MOHIT PANDE
The senior citizens are still required to pay income tax as per slab applicable to them but need not file return. The bank will deduct tax on interest income as per Finance Minister. To get refund senior citizen will have to file a return. It appears that FM is making a fool of senior citizens. Income Tax slabs for individuals are same for all ages, whether less than 60 yrs., above 60 to 80 yrs. and above 80 yrs. The exemption limit is Rs.250,000/- for all. more  
Abha Kohli
Exactly correct! Seems people don’t read things thoroughly and get excited over half the information more  
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