Senior citizens above 75 years exempted from filing ITR: To ea | Wealth of Wisdom - WOW

Senior citizens above 75 years exempted from filing ITR: To ease the compliance burden on senior citizens, finance minister Nirmala Sitharaman, while presenting Budget 2021, had exempted individuals above 75 years from filing income tax returns (ITR). The exemption will be available to only those senior citizens who have no other income but depend on pension and interest income from the bank hosting the pension account.