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Monday, April 21, 2025 Facebook Instagram Twitter WhatsApp Youtube Personal Finance Education Entertainment Jobs Alert Sports Hindi Technology Complaint Redressal. Fact-Checking Policy Correction policy Authors and Team DNPA Code of Ethics Onwership and Funding Cookie Policy Terms of Service Disclaimer Contact US About Us More Search Home Personal Finance Income Tax Department gives exemption in tax filing to these people, know..
. Personal Finance Income Tax Department gives exemption in tax filing to these people, know the Income Tax rules By Shyamu Maurya April 21, 2025 0 15 Share Facebook Twitter Pinterest WhatsApp Telegram Income Tax Department gives exemption in tax filing to these people, know the Income Tax rules Income Tax Saving: The days of filing ITR have come once again. Everyone has to file tax according to their income.
But do you know that the Income Tax Department gives relief in filing tax to a special category of people. Yes, there are some people who get exemption in tax filing. So let’s know who are these people and how to get exemption while filing ITR.
Income tax file: As soon as the new financial year begins, the time for filing tax also begins. Now taxpayers can go to the official portal and do their filing. Those who file Income Tax Return (ITR) always think about how they can save their money at the time of tax filing.
But there are some people who do not have to file tax. Yes, but there are some special categories of people who do not have to pay income tax. Income Tax Department gives relief If the tax filers do not fill the form on time or do not give their income of source, then they may have to face legal action.
But do you know that the Income Tax Act also gives relief to certain sections in filing tax. Yes, people living in different parts of India or whose income of source is less than a fixed limit, they may not be required to file ITR under certain conditions. Who is required to file ITR? According to the website of the Income Tax Department, every person who has a taxable income or salary and whose account is not required for audit, has to file ITR.
Apart from this, those whose income is less than the tax limit and who are exempted from paying tax can also get their refund by filing ITR. However, for this, they will have to show all the documents of their tax exemption at the time of filing the tax. Who gets special exemption Now you must be thinking to whom the Income Tax Department gives the gift of tax exemption.
So it is believed that if there is an elderly person above 75 years of age, then this can happen to him. The income of senior citizens above 75 years of age is limited only to pension and bank interest. Also, if senior citizens get pension etc.
from a fixed bank account, then also they do not have to fill ITR. Form 12BBA will be useful Many types of documents and forms are required to file ITR. One such form is 12BBA.
To get tax relief, senior citizens have to fill form 12BBA and submit it in the bank. This form has to be submitted at the place from where their pension and interest amount comes. Only after filing this form, they can get exemption from ITR filing.
(Note- The news is based on general information. Check all the things yourself at the time of filing tax) Tags income tax saving Share Facebook Twitter Pinterest WhatsApp Telegram Previous article Pope Francis: Pope Francis died, breathed his last at the age of 88 Shyamu Maurya Shyamu has done Degree in Fine Arts and has knowledge about bollywood industry. He started writing in 2018.
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