Payment of advance income tax by senior citizen
This query is : Resolved
08 March 2014
1)How will a retired person aged 65 yrs having no business or professional Income,be required to pay the Income Tax for the final financial year 2013-2014? Is he allowed to pay his total tax as payable on or before 31/03/2015 without any penalty or interest? please mention the particular section of I.T.Act,1963(amended). What is the last date of filing I.T. return for Sr.Citizen for 2013-2014 F.yr?
2)what are the I.T. rebates allowed for a senior citizen?
2)what are the I.T. rebates allowed for a senior citizen?
08 March 2014
1. senior citizen with no income from business/profession is not required to pay advance tax. They can discharge their tax liability on or before filing the tax return. Please refer section 207(2) of the Act. The last date for AY 2013-14 was 31 July 2013 which was later extended to 5 August 2013.
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