Logik (Cloud Engineer) (23 Points)
09 July 2018Hi All,
If a senior citizen is earning some income from things like FD, LIC pension and rented house etc and the money earned from these sources in fiscal is well below 2.5 Lakhs (150K to be precise) does he/she have the obligation of filling income tax? I have seen many people on internet platforms like Quora etc telling there is no need to file a tax return if you're coming in NILL tax slab
Please clarify
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178226 Points)
Replied 09 July 2018
Even though it is not mandatory for a senior citizen to file IT return if his aggregate income from all the sources is below Rs. 3 lakhs in any fiscal, but he may file the return to get refund back, which may have been deducted by bank or other deductors.
Secondly, advantage of filling ITR (even nil return) is to avoid any query/notice from ITD which may arise due to the digital survey programmes run by the department like NMS, to catch hold of high transactions, but non fillers.
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