Senior Citizen and Income upto Rs. 5 Lakhs

Querist : Anonymous (Querist) 20 April 2011 This query is : Resolved
The Govt. in the budget announced that persons of 60 years and above would be treated as Senior citizen. In such case they can fill up 15H form for tds.

2. The Income Tax Department states that if your income is upto Rs. 5 lakhs, he need not fill the Income Return. Please elucidate. Thanks

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R.Ramachandran (Expert) 21 April 2011
Your understanding is totally wrong.
Just because a person has been declared as a senior citizen on attaining the age of 60 years, does not mean one can automatically give Form 15H. Form 15H declaration can be given by the senior citizen, only if the tax on his estimated total income of the previous year in which such income is to be included in computing his total income will be NIL. In case, the tax on the senior citizen's income will not be NIL, Form 15H cannot be given by him.

The provision that no income tax return need be filed if the income is up to Rs. 5 lakhs, is applicable only to 'salaried employees' and not to others.

M.Sheik Mohammed Ali (Expert) 21 April 2011
yes, I agree Mr.R.R.

Querist : Anonymous (Querist) 21 April 2011
Thank you Mr. Ramachandran and Mr. Sheik.I am grateful that you have clarified but the banks still accept Form 15H from Sr.Citizens even if the senior citizens income is NOT NIL.

R.Ramachandran (Expert) 21 April 2011
Dear Anonymous,
Since the persons who give Form 15H will be responsible for the correctness or otherwise of their declaration, the banks are simply accepting the Forms.

Querist : Anonymous (Querist) 21 April 2011
Thanks a lot for your prompt response

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