Exemption under Sec 10 ( 26AAA )


This query is : Resolved 

Quick Summary
This discussion clarifies IT exemptions for Sikkim Old Settlers. While past IT payments may not be refundable, future income, including Bank FD interest, can be exempt under Section 10 (26AAA) if specific conditions are met. It's advised to continue filing your Income Tax Return (ITR) regularly.

14 January 2023 Hi My wife was a Govt Employee in Sikkim, now retired. She is paying IT even now. She is an OLd Settler of Siikim, residing before the cut off year.
1. Since Old Settler have been exempted from IT, can she claim refund of already paid amount ?
2. What is the process to claim Exemption from now henceforth ?
3.Are Bank FD Interest exempt under Securities, or as Income arising from within the State ?
Regards.

15 January 2023 1. Not possible now.
2. File ITR regularly..
3. Yes, subject to stated conditions in the sub-section.

15 January 2023 Sir Thanks in Gratitude for your prompt clarifications. Regards.

15 January 2023 You are welcome ..


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