I want detailed explanation on exemption for filing ITR for senior citizens above 75 years.
what is the scenario if the senior citizen is having pension income and rental income and the total income falls under taxable income
if the senior citizen is having only pension income, will the bank file the ITR for the sc without his consent?
I need elaborate information regarding this.
1) If there is rental income too and the taxable income is within the basic exemption limit, then no need to file ITR. But if there is any TDS credit, then ITR to be filed for claiming refund.
2) The bank will not file ITR without the consent of the assessee. The assessee is required to provide a declaration on the basis of which the bank would deduct required tax if any and intimate govt. But if there is rental income, then this exception is not available, in which case only the assessee can file ITR.
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