Pension income return

Senior citizen

Total income = 7,47,000
TDS deducted = 33,000

If opted for 115BAC = tax = 38,000

If not opted = Tax = 51,000

There are no kind of savings... So no chapter VI-A deductions....

Is there any way I can reduce tax...

please clarify.....
Replies (3)
Quick Summary
This discussion addresses a senior citizen's concern about their pension income tax return. With a total income of £7,47,000 and £33,000 TDS deducted, they are weighing the tax implications of opting for the new tax regime (115BAC) versus the old one. As they have no savings for deductions, they are seeking advice on how to reduce their tax liability.

Pay balance 5000/- under new tax regime and file ITR
Ok. thank you sir...
What income are included in your total income.

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