Senior Citizens not required to file Income Tax Return - Section 194P

Описание: As per Section 194P of the Income Tax Act, 1961
Senior citizens are not required to file their Income Tax Return, if they fulfill below mentioned conditions:

1. Their age is above 75 years
2. They have only two sources of income i.e. Pension and Bank Interest.
3. They earn Bank interest only from same bank where they receive their pension.

If any senior citizen fulfills above mentioned conditions then all they have to do is file a declaration with their bank. After that bank will deduct appropriate TDS and file their records with the Income Tax Authorities and such senior citizens will be exempt from filing their Income Tax Return.

Hope you like this video informative and please share with such senior citizens.

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