Government inserted a new section 194P in Income-tax Act,1961 which provides that senior citizens above the age of 75 years, having only pension and interest income from accounts maintained with bank ...

Income Tax for senior citizens: As the deadline for income tax filing nears, it is imperative for senior and super senior citizens to comprehend the distinct provisions. The Income Tax Department has ...

As the new financial year began on April 1, the Income Tax Department kicked off the annual Income Tax Return (ITR) filing season for Assessment Year (AY) 2025–26. With ITR Forms 1 to 7 now notified ...

As the deadline to submit Income Tax (IT) returns – July 31 – nears, taxpayers, who are yet to file their returns, should do so immediately. Also, though the Union government has made it mandatory for ...

In the Finance Act, 2021, Section 194P was introduced. With this, a senior citizen can file the tax return themselves or would deduct tax on their behalf and deposit it to the Income Tax Department.