ITR Filing: These people will not have to file ITR this year, exemption from income tax rules


Last date for filing Income Tax Return: More than 2 crore taxpayers have filed ITR for the financial year 2022-23. Taxpayers who have crossed a certain age limit are exempted from filing ITR. However, they have to fulfill certain conditions.

According to the Income Tax Department, people earning Rs 3 lakh or more annually should file ITR. More than 2 crore taxpayers have filed ITR for the financial year 2022-23. The last date for filing ITR is 31 July 2023. In such a situation, the taxpayers should file the return before the end of the deadline. However, certain categories of people are exempted from filing income tax.

Under section 194P of the Income Tax Act, 1961, relief has been provided to select senior citizens from filing income tax returns. However, they have to fulfill the eligibility conditions to avoid the obligation to file ITR.

Who are exempted from filing ITR under section 194P

Senior citizen is a resident of India and has attained the age of 75 years or more during the previous year i.e. FY 2022-23 (ending March 31, 2023) is exempted from filing ITR. Such senior citizens should not have any other income other than pension. However, such people can get interest income from the same bank in which they get pension.

be sure to keep this in mind

According to the Central Government notification, senior citizens can submit the declaration form to the bank from where the pension and interest income comes. The details should be included in the declaration as per rules. Such senior citizens will come in two categories, in the first category no tax will have to be paid and in the second category people will have to pay tax.

Who will file ITR after death of taxpayers?

As per the Income Tax rules, whoever is the legal heir of the deceased person has to file ITI in the name of the deceased. This return will be filed for the income that has been earned in the name of the deceased person. For this, first of all, the heir has to get his registration done legally. Heirs can not only file income tax returns in the name of the deceased person, but can also claim refunds.

(pc rights of employees)

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