New IT Rule 12AB: Additional Conditions for Mandatory filing of Tax Return (ITR) u/s 139(1)
CBDT notifies new IT Rule 12AB relating to additional conditions for mandatory filing of tax return (ITR), by persons referred to in section 139(1)(b).
Tag: Senior Citizens
New IT Rule 26D: Furnishing Declaration/ Evidence of Claims by Senior Citizens (Form 12BBA) u/s 194P
CBDT notifies the Income-tax (26th Amendment) Rules, 2021 to insert new IT Rule 26D regarding furnishing of declaration and evidence of claims by specified senior citizens in new IT …
CBDT clarifies ‘Specified Bank’ u/s 194P (Senior Citizens TDS: ITR Filing Exemption)
CBDT clarifies the term ‘Specified Bank’ for the purpose of TDS u/s 194P in the case of Specified Senior Citizens (of age 75 or more having pension/ interest income …
Section 194P: TDS and Exemption from ITR Filing for Senior Citizens (75 or above)
New IT Section 194P relating to TDS in the case of senior citizens aged 75 or more, provides for responsibility of necessary deduction of tax at source by specified …
CBDT Amends Declaration Form 15H; Section 87A Rebate for Senior Citizens included
CBDT amends IT Rules to allow declaration in Form 15H for payment of certain income without TDS from a senior citizen whose income is higher than the basic exemption …
No TDS u/s 194A for Income upto 50,000 in the case of Senior Citizens: CBDT Clarification
CBDT has clarified/reiterated that no tax (TDS) is required to be ‘deducted at source’ in the case of senior citizens where the amount of such income (credited or paid) …
Section 80TTB: Deduction for Interest on Deposits (Senior Citizens)
Section 80TTB has been inserted by the Finance Act, 2018 to provide for a higher deduction of upto Rs 50,000 in respect of interest income, in the case of …