Under section 80 D, you can claim a deduction of up to Rs 75,000 (25,000 for self and Rs 50,000 for parents). But if you and your parents are both senior citizens, it can go up to Rs 1 lakh. Rs 50,000 for self and Rs 50,000 for Parents).
SIR, Your videos are exceedingly Excellent. I have a doubt regarding senior citizens f.d INT from various banks which amounts to Rs.850000/- approximately. The tds from different banks @10 percent would amount to 85000/- but she/ he has to pay only Rs.41600/- including cess. In such situation what is the remedy for such person not to loose the excess amount? Is there any provision in law to do so? If there is any pl bring light to us?
Sir, in such case you may apply for Lower Deduction Certificate (LDC) with IT department in Form-13. Pls google it, you will get all the necy info on how to submit. You can apply for this on TRACES portal and once it is approved by IT dept, you need to submit to the Bank for lower deduction of TDS. If it is not approved, then the only way is to get the excess TDS deducted is: File ITR1 and claim such excess portion as refund. Hope it helps.
Good information sir, iam a senior citizen..FD interest per month is at present 50000rs per month from banks and post offices.....what about the FD of any private fin FD like Shriram Fin Bajaj fin fd.interest....pl clarify..i hope this year for senior citizens standards deduction are going to b 5lakhs from this fin year
Clear explanation sir Nenu 2021-22 lo first time demat account open chesina sir nenu intraday equity trading chestunna present varaku Naku losses vacchai sir Yela carry forward cheyali sir And last date yeppudu sir itr filing cheyadaniki and meru itr filing chestra sir Naku ITR filing gurunchi zero knowledge sir, thamari yela contact avvali sir plz reply me
Bro, Equity intraday losses ni speculative losses ga choopinchaali. Aa losses ni meeru 4 yrs varaku carry forward chesukovachu. Next year lo aa loss ni mallee intraday lo vachina profits thone adjust chesukovali andi, vere profits tho adjust cheyakoodadu. And meeru losses ni carry forward cheyalante ITR ni due date lopu file cheyali. ITR filing last date 31st July, 2022 andi. ITR-3 memu file cheyatledu andi. Local ga evaraina unte cheyanchandi.
Sir this year May 60 years. New version person. Intrest from savings bank 89000/- is there any benifits? Gross salary onle 17 lakhs. Need to make payme nearly 20000/- please clarify sir.
All are doing videos on ITR 1 filing only. Nowadays even Senior citizens are also depositing their mony in MF, where they get capital gains. For This they need to file ITR2. Hence I wish you to make a video on how to file ITR2.
Meeru vivaramga cheypparu maa auditor matho matladaru bank nundi tisukuvellina deposits chusi meeku bank lo 10% cut ayyindi vastadi antaru vastadoley teyleedu bank lo form H tisukovataleydu form g tisukovatam leydu ani bank vallu cheypputaru emi ardamkavatam leydu neenusenior citizen ni
Rai garu, you are right. They can avail and it is covered in this video. Also we have separate video on that topic in our channel. Pls do watch if required.
Please specify the cut off date to decide whether we come under below 60 or above 60. Understood or not? If a person completed 60 years by August 31, then from April to August, he will come under below 60 and from September to March he will come under above 60 in a financial year. So tell me whether he has to file returns as below 60 or above 60m
Krupavaram garu, if any individual attains 60 years or more on any day during the relevant FY then he/she will be considered as Senior Citizen for that relevant AY. Same applies to Super senior citizen also. Once they attain 60 years, they will be considered as senior citizens only (no need to consider part of the year)
Iam a senior citizen getting bank interest on FD nearly132,270/-.shall I submit ITR.The IT dept.is pressing to submit ITR for the year 2021 -22 before 31/3/22.pl.clarify..
If you have only interest on deposit below 300000 you need not file income tax return. But along with interest of you have other income and total income exceeds taxable income then you are required to file your return......
Chowdaiah garu, if your total income is only 1.32 lakh then no need to file ITR. But if TDS is already deducted on such interest, then to claim such tax as refund you need to file ITR.
SIR Iam a pensioner with 83 years(Super citizen) So please inform weather I should submit IT returns.Further I donot have any other sources of incomes except PENSION.PLEASE DO NEEDFULL..THANK YOU.
Sreenivas reddy garu, actual ga aite meeru 194P prakaram bank ki declaration furnish cheste ITR filing avasaram ledu. Mana channel lo aa video undi. Okasaari choodandi, idea vastundi. But ee facility konni banks inka provide cheyaledu. So okasaari bank lo aa facility gurinchi enquiry chesi aa prakaram proceed avvandi.
Sir, mee pension income 3 lakhs lopu unte meeru tax pay cheyakkarledu and filing kooda avasaram ledu (provided meeku 80c-80u deductions emi lekapote). Aa paina income unte meeku ITR filing compulsory. Ala kaakundaa mee income 3 lakh lopu undi, meeku deduct aina tax ni refund ga claim cheyatanikainaa meeru ITR file cheyali.
Shiva garu, so sorry for your loss. If ITR needs to be filed for your father (depending on your father's income for that particular year), you need to register yourself as legal heir in the portal and file ITR of your father in legal heir capacity. After that you can surrender his PAN by submitting an application to the concerned AO. Pls consult locally to get it done.
Sir, Rs50000(fds meeda interest) okafamilyki requirementki elameetavvutaru.nowadays for amiddle class family living i corporate cities how does he manage with his income like pensionand fds interest with Rs3L.Basically for middlle classs family min requirement for his family is Rs 6L.Qhy this logic is missing to the our central finance minister.getting income forum salaried People is easy for them how many business People are paying genuine incometax . They should cocentrate on those People not salaried People.
These matters are to be taken up only in PARLIAMENT !!! Public must bring pressure on the MPs of the country to discuss and take good decisions to help the public.
Nobody is thinking about business people constructing storied buildings without showing their income, lakhs & crores of black money in ITR and enjoying the public money, only employees are their target including the pensioners who have no further fetching because their genuineness towards ITR, this may be thinkable by the Govt.and survey may be done to catch these thieves & grabbing the National income for their self & families, tq
Sir .... I am sr citizen.central govt employee. Retd in 2016.from 2016 onwards I did not submit my income tax returns due to lazyness. Now I want start to submit my returns. I will not come under tax surveillance for information. What to do sir.
Ayina senior citizens ki vachhedi salary kadu,pension, daniki income tax emity? Politicians pension ki tax collect chestunnara? Because they are imbecile and helpless, that is why they are taxed.
Speed explanation itwll be clear when explained 2 or 3 sections with examples.tq
I AM SENIOR CITIZEN... Your information excellent.
Thank you so much Jaganmohan rao garu.
Very good way of explanation thanq very much brother
Thank you Rasheed garu.
Under section 80 D, you can claim a deduction of up to Rs 75,000 (25,000 for self and Rs 50,000 for parents). But if you and your parents are both senior citizens, it can go up to Rs 1 lakh. Rs 50,000 for self and Rs 50,000 for Parents).
SIR, Your videos are exceedingly Excellent. I have a doubt regarding senior citizens f.d INT from various banks which amounts to Rs.850000/- approximately. The tds from different banks @10 percent would amount to 85000/- but she/ he has to pay only Rs.41600/- including cess. In such situation what is the remedy for such person not to loose the excess amount? Is there any provision in law to do so? If there is any pl bring light to us?
Sir, in such case you may apply for Lower Deduction Certificate (LDC) with IT department in Form-13. Pls google it, you will get all the necy info on how to submit. You can apply for this on TRACES portal and once it is approved by IT dept, you need to submit to the Bank for lower deduction of TDS. If it is not approved, then the only way is to get the excess TDS deducted is: File ITR1 and claim such excess portion as refund. Hope it helps.
Sscitizens fd inttrest gurinchi last lo pettsnannaru. Elachudali. Pls cheppandi
Excellent points on Income Tax benefits are told for Sr.citizens & Super Sr.Citizens
Thank you Pullaiah garu.
Good Information to senior citizens, thank you
Thank you Chandra Sekhara Rao garu.
very excellent information of incemetax limit of senior citizen..
Thank you so much Jaganmohan Rao garu.
Very useful topic for Senior and Super senior citizens.
Thank you Krishna reddy garu
Thanks for good article very useful.
Very useful information for senior and super senior citizens sir
Thank you Gopireddy garu
Good information sir, iam a senior citizen..FD interest per month is at present 50000rs per month from banks and post offices.....what about the FD of any private fin FD like Shriram Fin Bajaj fin fd.interest....pl clarify..i hope this year for senior citizens standards deduction are going to b 5lakhs from this fin year
Sir, only banks and Post office pai unde interest ki maatrame deduction vastundi.
చాలా బాగా చెప్పారు ధన్యవాదాలు నాకు69 years
మీ videos చూడాలి అంటే ఏమిచెయ్యాలి Excel spreadsheet పంపుతారా
Rao garu, thank you so much. Sir channel loki velli anni videos ni choosukovachu sir.
Clear explanation sir
Nenu 2021-22 lo first time demat account open chesina sir nenu intraday equity trading chestunna present varaku Naku losses vacchai sir
Yela carry forward cheyali sir
And last date yeppudu sir itr filing cheyadaniki and meru itr filing chestra sir Naku ITR filing gurunchi zero knowledge sir, thamari yela contact avvali sir plz reply me
Bro, Equity intraday losses ni speculative losses ga choopinchaali. Aa losses ni meeru 4 yrs varaku carry forward chesukovachu. Next year lo aa loss ni mallee intraday lo vachina profits thone adjust chesukovali andi, vere profits tho adjust cheyakoodadu. And meeru losses ni carry forward cheyalante ITR ni due date lopu file cheyali. ITR filing last date 31st July, 2022 andi. ITR-3 memu file cheyatledu andi. Local ga evaraina unte cheyanchandi.
Under ttb interest applies two or more banks or only one bank it can apply each bank wise
What about rental income
Good, relevant sections would be added
Sir this year May 60 years. New version person. Intrest from savings bank 89000/- is there any benifits? Gross salary onle 17 lakhs. Need to make payme nearly 20000/- please clarify sir.
Sir, for senior citizens interest deduction can be claimed upto Rs. 50,000 under 80TTB. Pls claim it, tax payable will come down.
All are doing videos on ITR 1 filing only. Nowadays even Senior citizens are also depositing their mony in MF, where they get capital gains. For This they need to file ITR2. Hence I wish you to make a video on how to file ITR2.
Udaya lakshmi garu, we understand your concern. We will try to cover ITR-2 filing as well. Thank you.
Please inform Rs. 50.000 interest amount for senior citizens is yearly or monthly
Sathya garu, 80TTB lo vache deduction 50,000 per year andi.
Superb explanation...thanks and regards.
Thank you sir.
Thank you.Information nicely presented
Thank you Latha kumari garu.
సీనియర్ సిటిజన్ పథకంలో 30 లక్షలు డిపాజిట్ చేసినప్పుడు టాక్స్ కట్ ఎంత కట్ అవుతుంది
Seniors above 75 years can be Exempted from Tax.
I am 82yrs old. I support that above 75YRS should get exemption from Income tax.
Very very useful information. Tq
Thank you so much Chandra Sekhara Rao garu.
Meeru vivaramga cheypparu maa auditor matho matladaru bank nundi tisukuvellina deposits chusi meeku bank lo 10% cut ayyindi vastadi antaru vastadoley teyleedu bank lo form H tisukovataleydu form g tisukovatam leydu ani bank vallu cheypputaru emi ardamkavatam leydu neenusenior citizen ni
Very nice Brother
Thank you bro.
Your Voice modulation 👌
Thank you so much sir.
Which income to take income tax accounts for senior citizens
Sir, please consider your pension income + Bank interest and any other income if you have.
I remember to have readin news that sr. Citizens 75 yrs above need not file returns.... Plese confirm.
Rai garu, you are right. They can avail and it is covered in this video. Also we have separate video on that topic in our channel. Pls do watch if required.
Super.explain.tq
Will pension from EPF also can be claimed 50000 standard deduction apart from Rs50000/- from salary income ?
Sastry garu, whether it is pension or salary you can claim std. deduction only once.
I am filing my returns my self since 1970. You have explained correctly on senior citizens tax benefits.
Thank you Jagadeesh garu.
Good explanation about income tax 👍
Thank you Murthy garu.
Useful information about IT
Thank you Usha garu.
I am a senior citizen. Can I claim Rs. 50000 interest exemption on savings income in new tax regime?
Sure
Please specify the cut off date to decide whether we come under below 60 or above 60. Understood or not? If a person completed 60 years by August 31, then from April to August, he will come under below 60 and from September to March he will come under above 60 in a financial year. So tell me whether he has to file returns as below 60 or above 60m
Krupavaram garu, if any individual attains 60 years or more on any day during the relevant FY then he/she will be considered as Senior Citizen for that relevant AY. Same applies to Super senior citizen also. Once they attain 60 years, they will be considered as senior citizens only (no need to consider part of the year)
Is it attains or completed 60 years ?
Iam a senior citizen getting bank interest on FD nearly132,270/-.shall I submit ITR.The IT dept.is pressing to submit ITR for the year 2021 -22 before 31/3/22.pl.clarify..
If you have only interest on deposit below 300000 you need not file income tax return. But along with interest of you have other income and total income exceeds taxable income then you are required to file your return......
@@bhaskarramanujam116 Thanks sir.
Chowdaiah garu, if your total income is only 1.32 lakh then no need to file ITR. But if TDS is already deducted on such interest, then to claim such tax as refund you need to file ITR.
Bhaskar garu, thank you for helping him.
Very good information
Thank you Chitti garu.
Sir.if the senior citizen got the intt on fd rs. 80000 will he is eligible for 50000 exemption or not
Vasantha rao garu, yes they are eligible.
Saving under PPF account deposit can be eligible for tax exemption
SIR Iam a pensioner with 83 years(Super citizen) So please inform weather I should submit IT returns.Further I donot have any other sources of incomes except PENSION.PLEASE DO NEEDFULL..THANK YOU.
Sadasiv garu, eligible avutundi 80C lo.
Sreenivas reddy garu, actual ga aite meeru 194P prakaram bank ki declaration furnish cheste ITR filing avasaram ledu. Mana channel lo aa video undi. Okasaari choodandi, idea vastundi. But ee facility konni banks inka provide cheyaledu. So okasaari bank lo aa facility gurinchi enquiry chesi aa prakaram proceed avvandi.
నాకు వయస్సు 78సం. మరియు స్టేట్ govt. pensioner. ను కొత్త rules ప్రకారం incometax రికవరీ చేశారు no fixed deposits Only pension నేను ITR fileచేయాలనా
Sir, mee pension income 3 lakhs lopu unte meeru tax pay cheyakkarledu and filing kooda avasaram ledu (provided meeku 80c-80u deductions emi lekapote). Aa paina income unte meeku ITR filing compulsory. Ala kaakundaa mee income 3 lakh lopu undi, meeku deduct aina tax ni refund ga claim cheyatanikainaa meeru ITR file cheyali.
My father expired during Dec'2019 , now how can I intimate the same IT department to close my father pan no. Pl clarify
If you are so particular, then you have to contact a good income tax auditor. You need to produce death certificate and legal heir certificate.
Shiva garu, so sorry for your loss. If ITR needs to be filed for your father (depending on your father's income for that particular year), you need to register yourself as legal heir in the portal and file ITR of your father in legal heir capacity. After that you can surrender his PAN by submitting an application to the concerned AO. Pls consult locally to get it done.
Sir,
Rs50000(fds meeda interest) okafamilyki requirementki elameetavvutaru.nowadays for amiddle class family living i corporate cities how does he manage with his income like pensionand fds interest with Rs3L.Basically for middlle classs family min requirement for his family is Rs 6L.Qhy this logic is missing to the our central finance minister.getting income forum salaried People is easy for them how many business People are paying genuine incometax . They should cocentrate on those People not salaried People.
These matters are to be taken up only in PARLIAMENT !!! Public must bring pressure
on the MPs of the country to discuss and take good decisions to help the public.
Nobody is thinking about business people constructing storied buildings without showing their income, lakhs & crores of black money in ITR and enjoying the public money, only employees are their target including the pensioners who have no further fetching because their genuineness towards ITR, this may be thinkable by the Govt.and survey may be done to catch these thieves & grabbing the National income for their self & families, tq
Sir .... I am sr citizen.central govt employee. Retd in 2016.from 2016 onwards I did not submit my income tax returns due to lazyness. Now I want start to submit my returns. I will not come under tax surveillance for information. What to do sir.
What about deductions under 80(c) please!
Good brother
Thank you Maheswar garu.
ITR మీరు file చేస్తారా.
Sreenivasa Rao garu, memu konni services provide chestaamu. Pls go through our services: www.sracademyindia.com/rapics-telugu/
For senior citizen saving scheme they are cutting TD's first only. They not accepting 50h
Sir, in such case only option is to file ITR and claim refund (If you are eligible for refund).
యివన్నీ కాగితాలకే parimitham .బ్యాంకు వాళ్ళు ఇచ్చే వడ్డీ 5% TDS. 10%. ఇచ్చేది 5% తీసుకునేది 10%.ఇదెక్కడి కాబూలీ వాలా న్యాయం
👍 .
Handicapped variki any income tax concesdions
Rathnam garu, disabled dependents ki konni deductions unnai. Avi Sec 80DD and Sec 80U lonu cover avutaai. Ivi kaakunda vere deductions antoo levu. Ee sections okasari check cheyandi.
Veryuseful.toseniorcitizens.and
Super.seinior.citizens
Anna nenu online games lo 8lakhs daga vachayee tax katala
Vaste taxes kattali.
Bro, tax kattali. General ga Tax cut ayyi vastundi. Ala cut aite ITR file chesukunte saripotundi.
Bro neku ipl vese intrest vunte naku message cheyu
75 సంవత్సరాలు దాటిన పెన్షనర్లకు ట్యాక్స్ రద్దు చేయాలి!
రహస్యమా?
Senior citizens may be exempted from I.T.R, very nasty administration
Ayina senior citizens ki vachhedi salary kadu,pension, daniki income tax emity? Politicians pension ki tax collect chestunnara? Because they are imbecile and helpless, that is why they are taxed.