Income tax return
This query is : Resolved
03 February 2012
should a senior citizen with income from pension, interests frombank FDs need file his return if the total income is under 2.5 lakhs. can this limit extends upto 5 lakhs. can he submit Form 15H with banks to avoid TDS.
CA PARAS BAFNA
(Expert)
03 February 2012
He can give Form 15H in case his Gross Total Income is under the taxable limit.
.
Extension of limit has not been prescribed.
In case income is below 2.5 lakh, he should continue to file returns voluntarily.
However, he is not required to file his Return where income is below 2.50 lac.
.
Extension of limit has not been prescribed.
In case income is below 2.5 lakh, he should continue to file returns voluntarily.
However, he is not required to file his Return where income is below 2.50 lac.
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