Tag: senior citizen
Income Tax benefits for senior citizens, higher exemptions, relief and rebates Income Tax benefits for senior citizens, higher exemptions, relief and rebates. Income-tax Act provides several benefits and exemptions to the senior citizens. However,  to become eligible to these benefits the senior citizen/very senior citizen must be resident …
Senior Citizens Welfare Fund to bear 7.15% interest wef 01.04.2023 to 31.03.2024 MINISTRY OF FINANCE(Department of Economic Affairs)NOTIFICATION New Delhi, the 10th June, 2024 F. No. 13/20/2014-NS.—It is hereby notified that the deposits made under the Senior Citizens Welfare Fund, announced in the Ministry of Finance (Department of …
CBDT notifies Form 12BBA as declaration by senior citizens of the age of 75 years or more for claiming exemption from filing return of income u/s 194P Finance Act 2021 has inserted a new section 194P in the Income Tax Act 1961 to provide Relaxation for certain category …
Relaxation for certain category of senior citizen of 75 years or more from filing return of income-tax (ITR) in Union Budget 2021-22 Section 194P introduced by Finance Act 2021 Section 139 of the Act provides for filing of return of income. Sub-section (1) of the section provides that …
Allowability of deduction u/s 80TTB for SB interest to senior citizens not have fixed deposit interest income The ITR utilities provided by the income tax efiling website have been programmed to disallow the deduction u/s 80TTA to senior citizens (base on the input of date of birth) by …
No tax deduction u/s 194A for Senior Citizens where aggregate amounts of interest credited or paid during financial year does not exceed Rs. fifty thousand – CBDT F. No. Pro DGIT(S)/CPC(TDS)/Notification/2018-19 Notification No. 06/2018 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income-tax (Systems) …
Tax Relief to Senior Citizens in Budget 2018-19. Health insurance premium, medical treatment of specified diseases, interest income and non deduction of tax at source (A) Deductions in respect of health insurance premium and medical treatment Section 80D, inter-alia, provides that a deduction upto Rs 30,000/- shall be allowed …
Senior Citizens Welfare Fund Rules 2016. Unclaimed amounts to transferred be used for promoting welfare of Senior /older citizens Senior Citizens Welfare Fund Rules 2016Â Government of India Ministry of Finance Department of Economic Affairs New Delhi, the 18th March,2016 NOTIFICATION G.S.R (E) In exercise of the powers …
