Filing returns by senior citizens

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  1. k j sastry

    k j sastry New Member

    If after all calculations - exemptions and deductiions, the tax to pay is nil, is a senior citizen required to file a nil return?
    Ex: My income from pension, FD interests and SB interest is about 4,40,000. After deductions under 80C, 80 TTT, 80 G and exemption of 3,00,000 there is taxable income of 16,800. That makes a tax of 1680. Applying the rebate of 2000, tax to pay is nil, Does this require to file a nil return (by a senior citizen)?
     
  2. V K Khanna

    V K Khanna Active Member

    Yes, you would need to file the return of income as your gross income before deductions under chapter VI exceeds the threshold limit of income chargeable to tax.
     
    k j sastry likes this.
  3. k j sastry

    k j sastry New Member

    Thanks, Khannaji
     
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