Exemptions from filling of itr for very sr. citizen
This query is : Resolved
17 November 2014
What Exemptions are Available from Filing of Income Tax Return for the Assessment Yr. 2010-11 2011-12 2012-13 to a Very Senior Citizen ( 80 yrs and above)
18 November 2014
exemptions are based only on the basis of basic exemption limit. no special provision exempting senior or super-senior citizens
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18 November 2014
exemptions are based only on the basis of basic exemption limit. no special provision exempting senior or super-senior citizens
18 November 2014
What was the provision regarding Exemption from filing return if taxable income is below 500000 in assessment yr 10-11 11-12 12-13
18 November 2014
that exemption was limited to salaried class assessees. you may refer https://taxguru.in/income-tax/faq-exemption-filing-incometax-return-salaried-total-income-exceeding-rs-500000.html
18 November 2014
further you may refer https://taxguru.in/income-tax/what-are-the-tax-benefits-available-to-senior-citizens.html
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18 November 2014
Thank you sir but i want to ask one more thing what is the concept of Form H and what benefit is available to the Tax payer
18 November 2014
it is not form H but form 15H and its use for non deduction of tds in case of income like int on fd earned by senior citizen.
18 November 2014
Sorry i mean to say Form 15H only typing mistake
18 November 2014
ans is give for form 15 H in my last reply
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18 November 2014
that means if you don't expect to have taxable income in any year you can fill Form 15 H but in the given case will only, Interest income will be considered or Income from all the sources.
18 November 2014
it means if u have total income after computing & applying income tax laws for a particular FY which comes below the basic slab rates mentioned by specific Finance act applicable for same.
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