Hi ,
My mother's age is 62. Is she comes in senior citizen slab?
She has earned 2,60,000 from fixed deposite interest in year and paid LIC of 50 thousand.(80C).
What is tax need to be paid?
If paid, do we need to file return?
-/Aryam
3 Replies
Nirali
(No)
(125 Points)
Replied 30 July 2012
Your mother comes in senior citizen.
U have to file return of income because your income is above basic exemption limit i.e 240000.
But u will not have to pay tax because ur taxable income is only 190000(240000-50000).
aryam
(SSE)
(62 Points)
Replied 30 July 2012
As we need to file return , even if income is less than 5 L, but intrest earned is greater than 10K.?
Thanks for reply.
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