NEW DELHI—In a huge relief to senior citizens, the Indian government on Monday exempted people above 75 years of age with pensions as their lone source of income from filing income tax returns.
“’We shall reduce the compliance burden on our senior citizens who are 75 years of age & above – for senior citizens who only have pension & interest income, I propose exemption from filing their Income Tax return,” Union financé minister Nirmala Sitharaman said while presenting the Union budget 2021.
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The minister said the government initiative was aimed at giving their dues to such citizens as they have devoted an important period of their life in nation building.
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