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| - Fact Check: Claims of Income Tax Exemption for Senior Citizens are FALSE, Relief Only Available Through ITR Filing
The claim that the Central Government has granted income tax exemption to the elderly is false. There has been no such announcement regarding relief in income tax payments for senior citizens. However, under Section 194P of the Income Tax Act, 1961, senior citizens aged 75 years and above are exempted from filing ITR.
- By: Abhishek Parashar
- Published: Dec 2, 2024 at 05:18 PM
- Updated: Dec 2, 2024 at 05:34 PM
New Delhi (Vishvas News). Amid the Winter Session of Parliament, a viral post circulating on social media claims that the central government has exempted senior citizens aged 75 and above from paying income tax, stating they are no longer required to pay taxes on their income.
Vishvas News’ investigation found this claim to be false. Senior citizens above 75 are exempted from income tax filing under section 194P of the Income Tax Act, and not from paying income tax. Hence, the claim that senior citizens will no longer have to pay income tax after the ‘new’ announcement of the central government is false.
What is viral?
Social media user ‘திடீர்னு தூங்கிடுவேன்’ shared the viral post on November 29, 2024, with the caption, “Is it true, some one please clarify, Central Government’s Big Announcement – These People Will Not Have to Pay Tax. The Modi government will not have to pay tax to the senior citizens of the country, because on the completion of 75 years of India’s independence, senior citizens above 75 years of age will no longer have to pay tax on their income. Senior citizens in India live on income from pensions and other schemes, they will no longer have to pay any tax on their income and they will not have to file income tax returns, senior citizens have been given exemptions in this. According to the information given by the Central Board of Direct Taxes, the central government has changed the law to provide tax exemption to senior citizens, which includes important changes between Rule 31, Rule 31A, Form 16 and 24Q, and senior citizens above 75 years. of age will have to submit a 12-BBA application to the bank to get tax exemption. Suresh Pote, Secretary – Maharashtra Senior Citizens Federation – Mumbai – Navi Mumbai Division. For senior citizens – the news is very important, you should share it with others too.”
Investigation
To investigate the viral claim, we conducted a keyword search and found no reports confirming the exemption of senior citizens from paying income tax. Instead, we came across several reports debunking this claim as false.
As per reports, in response to questions raised in Parliament, Minister of State for Finance Pankaj Chaudhary stated, “There is no proposal under consideration to provide income tax relief to senior citizens.”
Press Information Bureau (PIB), the nodal information agency of the central government, also refuted the viral claim, saying, “Senior citizens above 75 years of age, who have income only from pension and interest, are exempted from ITR filing (under section 194P). Wherever their tax liability arises, the banks deduct it at source.”
The official Income Tax website also clarifies that senior citizens aged 75 and above are exempt from filing Income Tax Returns (ITR) under Section 194P of the Income Tax Act, 1961.
The IT Act provides exemptions for senior citizens under two categories:
A. Senior citizens above the age of 60
B. Senior citizens above 80.
Senior citizens aged 60 and above are exempt from paying taxes on income up to ₹3 lakh under both the old and new tax regimes. For senior citizens aged 80 and above, the old tax regime allows tax exemption on earnings up to ₹5 lakh, while the new tax regime provides an exemption up to ₹3 lakh. For more details, you can refer to the official Income Tax portal.
Our investigation reveals that the claim in the viral post, stating that senior citizens’ income has been exempted from income tax is false.
We contacted Business Standard’s Deputy News Editor Neelkamal Sundaram regarding the viral claim. He clarified that there is no truth in the claim that the Central Government has granted full income tax exemption to the senior citizens.
The Facebook group, where the user shared the viral post, has around 1.5 lakh members.
Conclusion: The claim that the Central Government has granted income tax exemption to the elderly is false. There has been no such announcement regarding relief in income tax payments for senior citizens. However, under Section 194P of the Income Tax Act, 1961, senior citizens aged 75 years and above are exempted from filing ITR.
- Claim Review : The Central Government announced income tax exemption for senior citizens.
- Claimed By : Facebook User திடீர்னு தூங்கிடுவேன்
- Fact Check : False
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