Senior citizens above 75 years of age with only pension and interest income will be exempt from filing Income Tax Returns in order to ease their compliance burden, Finance Minister Nirmala Sitharaman announced. The government will also set up a dispute resolution committee for taxpayers with taxable income up to Rs.50 lakh and disputable income of Rs. 10 lakh.
Senior citizens above 75 years of age with only pension and interest income will be exempt from filing Income Tax Returns in order to ease their compliance burden, Finance Minister Nirmala Sitharaman announced. The government will also set up a dispute resolution committee for taxpayers with taxable income up to Rs.50 lakh and disputable income of Rs. 10 lakh.
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