Mr
3 years ago
My mother(78 yrs) recently got arrears of family pension due to which gross income has fallen in taxable slab. Is relief under 89(1) admissible in this case?
Is tax exemption admissible on the interest earned in saving account. If yes, under which section of IT act
NITHYANANDAN SUNDARESAN
Responded 3 years ago
A.Dear Client ,
1. Senior Citizens have less slabs as per income tax laws.
2. Usually banks is an issue in this regard it will automatically deductued if you have maximum amount in bank by saying it is deducted as per the Tax. Eg. If you have 10 lakhs and above the Bank softwares will automatically send your information to the TAX authoritites by your PAN Card references.
3. You can tell this issue to the bank as well to the Tax Inspectors and then if you feel more money is lost.
4. Consult the TAx Lawyer in your area or a Expert Charatered ACcountant. they do necessary procedures as per laws.
1. Senior Citizens have less slabs as per income tax laws.
2. Usually banks is an issue in this regard it will automatically deductued if you have maximum amount in bank by saying it is deducted as per the Tax. Eg. If you have 10 lakhs and above the Bank softwares will automatically send your information to the TAX authoritites by your PAN Card references.
3. You can tell this issue to the bank as well to the Tax Inspectors and then if you feel more money is lost.
4. Consult the TAx Lawyer in your area or a Expert Charatered ACcountant. they do necessary procedures as per laws.
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A.Please consult Chartered Accountant.
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