Before Budget 2023, Finance Minister Nirmala Sitharaman has given gifts to senior citizens. Under this, senior citizens above 75 years of age, who have only pension and bank interest as their source of income, will get the benefit of this relief. That means they have to file income tax now. will not be needed.
As announced in Budget FY 2022-23, senior citizens above 75 years of age, having only pension and interest income, are now exempted from filing Income Tax Return.
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