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
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Senior citizen - tax
Replies (3)
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).
Sory not 190000 but 210000(260000-50000).
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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