Income tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 August 2011 DEAR ALL, I AM A Sr. citizen. I need your expert advise on following.
1.IS IT COMPULSARY TO FILE A RETURN BY A SENIOR CITIZEN AFTER FILING 15H/15G IN Sr.C.S.S.?
2.WHETHER THE MATURITY VALUE OF NSC IS FULLY TEXABLE/PARTLY OR NOT AT ALL?
3.IN POST OFFICE AFTER 5+3=8 YRS. WHY Sr.CITIZEN CAN'T EXTEND RE-INVESTMENT IN SAME SCHEME? WHAT OTHER ALTERNATIVES?
4.IF 15H/15G FORM IS NOT FILED HOW MUCH MAX. TDS WILL BE COUNTED ON INVESTMENT OF RS.1 LAC IN Sr.C.S.SCHEMEIN POST OFFICE.? IS IT COMPULSARY TO FILE A RETURN AFTER SUCH DEDUCTION IN TDS?
thanks in advance.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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04 August 2011 1. If the income is not less than Rs.2,40,000/- in the financial year 2010-11, return has to be filed though 15H has been filed.
2. Principal portion of NSC matured is tax free. Interest is taxable.
3. query not understood.
4. -do-

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