Specified senior citizen status secures concessional tax treatment for pensioners aged seventy five and above meeting income and declaration conditions. Specified senior citizen means a resident individual aged seventy five years or more in the previous year who has pension income and no other income except interest from an account in the same specified bank where pension is received, and who has furnished to that bank a prescribed declaration containing required particulars and verified in the prescribed manner.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Specified senior citizen status secures concessional tax treatment for pensioners aged seventy five and above meeting income and declaration conditions.
Specified senior citizen means a resident individual aged seventy five years or more in the previous year who has pension income and no other income except interest from an account in the same specified bank where pension is received, and who has furnished to that bank a prescribed declaration containing required particulars and verified in the prescribed manner.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.