One of the most important announcements made by FM Nirmala Sitharaman in her budget speech is the exemption granted to senior citizens above the age of 75, from filing income tax returns. This comes as a relief for senior citizens from filing their annual returns but there have been mixed reactions.
Responding to the announcement, Raj Kumar Singh, a former employee of an electrical instruments firm, said this would bring in huge relief for pensioners.
"I survive on my monthly pension, which is my only source of income. Though I don't receive a huge amount, I still had to file ITR every year and make payments to my accountant for the same," Singh said.
"But now since this is an announcement made, I would spend less and there won't be any chaos for me to go to my bank and get the ITR filed," he added.
However, Birmatiben Shah, a senior citizen thinks that the window might be misused by a few. "I am surviving on my pension. But some senior citizens also have investments as their incomes. There are chances that people might misuse the relief," Shah, a resident of Bandra said. "Maybe, if I have investments, my son too has many investments, so what if my son shows all his investments in my name? Won't he evade from paying taxes?" Shah said, adding there is a need of more clarity on the issue.