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)
Nikhil Kaushik
(Expert)
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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Nikhil Kaushik
(Expert)
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
Nikhil Kaushik
(Expert)
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
Nikhil Kaushik
(Expert)
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
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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