Income Tax Return for 75 years and above: Modi Govt does this to confirm EXEMPTION from filing I-T returns for these senior citizens
Income Tax Return Filing: In line with the announcement from Finance Minister Nirmala Sitharaman during the Budget Speech 2021-22, the income tax department has notified declaration forms to be filed by senior citizens aged 75 years and above with the banks to get exemption from filing I-T return for fiscal year 2021-22
In the Budget Speech 2021-22, FM Sitharaman had said that in the 75th year of Independence of our country, the government shall reduce compliance burden on senior citizens who are 75 years of age and above. Source: Reuters