ITR filing for senior citizen

Save Share

This query is : Resolved

Quick Summary

A senior citizen received a notice to file a belated Income Tax Return (ITR) despite having bank Fixed Deposit (FD) interest income below the basic exemption limit. The discussion clarifies that while income below £2.5 lakh generally doesn't require filing, other criteria might make it mandatory. It's advised to check the compliance portal for specific reasons and consider filing for safety, even if not strictly required.

sai

sai (Querist)

26 December 2022 Greetings,

My mother( senior citizen) has bank fd interest income of Rs. 41800 in FY 21-22. This was her only source of income. Now we got a notice on her name stating to file belated ITR.
I don't understand as income is less than basic exemption of 2,50,000.

Does she have to file ITR ? If yes, which ITR and sections to be used ?

Kindly suggest me.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

26 December 2022 Check her Annual statement under compliance portal. She may be falling under some other criteria, whereby filing of ITR would be mandatory.
If not, reply accordingly, no need to file ITR.

sai

sai (Querist)

26 December 2022 Sorry sir, not a senior citizen as of Mar 2021.
Now, what is the scenario sir ?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

26 December 2022 Whatever be the status of the assessee, it would be better to file ITR for more safety.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now