Senior citizen receiving pension and interest on bank fds
This query is : Resolved
Dattatraya
(Querist)
06 June 2018
MY MOTHER AGED 88 YEARS HAS PENSION AND INTEREST FROM BANK FDs. AFTER ADJUSTING TDS IN I TAX RETURN ITR-1 HAS A TAX LIABILITY FOR AY 2018-19 FOR RS.11000/-
BEFORE SUBMITTING ITR SHE WILL PAY THE LEGITIMATE TAX AMOUNT THROUGH NET BANKING.
MY QUESTION IS WEATHER SHE ALSO WILL HAVE TO PAY interest u/s 234B & 234C OR ANY PENALTY?
PLEASE GUIDE.
REGARDS
BEFORE SUBMITTING ITR SHE WILL PAY THE LEGITIMATE TAX AMOUNT THROUGH NET BANKING.
MY QUESTION IS WEATHER SHE ALSO WILL HAVE TO PAY interest u/s 234B & 234C OR ANY PENALTY?
PLEASE GUIDE.
REGARDS
KAVIRAJA ADDANGADI
(Expert)
07 June 2018
senior citizen will not have to pay advance tax provided the following conditions are fulfilled:
The senior citizen is an individual
The senior citizen in question is a resident of India
The senior citizen is an individual who is at least 60 years or more in age
The senior citizen does not earn any income that can be charged under the heading - Profits and gains of business or profession
The senior citizen is an individual
The senior citizen in question is a resident of India
The senior citizen is an individual who is at least 60 years or more in age
The senior citizen does not earn any income that can be charged under the heading - Profits and gains of business or profession
Dhirajlal Rambhia
(Expert)
18 November 2021
"WEATHER SHE ALSO WILL HAVE TO PAY interest u/s 234B & 234C OR ANY PENALTY?"
No. no interest or penalty in her case.
No. no interest or penalty in her case.
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