IDA INCREASED 4.8% FROM 1-1-2022

Monday, 1 February 2021

 UNION BUDGET 

FOR PENSIONERS:

GOOD NEWS:  Senior citizens 75 years and above are exempted from FILING INCOMETAX RETURNS. Pension paying banks will deduct IT automatically as TDS. 

BAD NEWS: 

NO CHANGE IN INCOMETAX CEILING LIMITS OR EXEMPTIONS


3 comments:

  1. Banks are deducting tds.If there is any refund you have to file ITR.So this is not much useful.

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  2. This comment has been removed by the author.

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  3. Yes! Also, after 15 years, pensioners will get their commuted pension also, which means more TDS. After 80, 20% additional pension will be given and after that for every additional 5 years, another 10% will be added. That means more & more TDS without any IT REFUND if we save as per Sec. 80C , D etc. if we DO NOT FILE ANY ITRs.

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