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.
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“’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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