Exemption from filing ITR for certain senior citizens (Sec 194P)

From FY 2021-22, resident senior citizens (75+ years) need not file ITR if:

📌Income is only pension + interest from the same bank.

📌Bank is a Govt.-notified specified bank.

📌Declaration is submitted to the bank.

👉 The bank will deduct TDS after considering deductions & rebate. No ITR filing required.

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