Menu
Exemption from filing ITR?
What's the exemption limit for senior citizen for not filing ITR under new income tax regime? TIA
Replies (7)
Quick Summary
Not filing then exemption limit also not required....!!!
What is Your actual query...??
Can You elaborate with more details...??
What is Your actual query...??
Can You elaborate with more details...??
Unless it's a gross requirement as per . 5lakhs exemption rest
Basic exemption limit is 3 lakhs in new regime. If the net taxable taxable income is below this limit it's mandatory to file returns.
FYI. In new regime there is no separate slab for senior citizens. All are equal.
FYI. In new regime there is no separate slab for senior citizens. All are equal.
De7
pending on gross total income and above exemption limit
pending on gross total income and above exemption limit
Budget 2021 introduced a Section 194P, under which senior citizens aged 75 and above are exempted from filing the ITR if they fulfil the following criteria:
They have income only from their pension.
They receive income from interest and pension in the same bank account.
They have furnished a declaration form 12BBA to the specified bank.
They have income only from their pension.
They receive income from interest and pension in the same bank account.
They have furnished a declaration form 12BBA to the specified bank.
It's an exemption for senior citizen
@ sabyasachi Mukherjee
The complete thread relates to senior citizen, query itself for senior citizen.
So , reply must be for senior citizen.
The complete thread relates to senior citizen, query itself for senior citizen.
So , reply must be for senior citizen.
Recent Topics :
- Transport agency accounting entry in purchase &
- REGARDING HSN CODE FOR WASHING JOB CHARGES
- Advance Tax Due Date 2026
- Query – Interest on Capital Received by Part
- Query - Section 164(2)(a) – Interpretation o
- Submission for Expert Opinion on Rectification of
- NRI since March 2023 – resident savings acco
- My All-Time Top 15 Indian Web Series
- Wrong date of invoice
- Paper 6 - IBS
Related Topics :
CAclubindia
