Tuesday, March 15, 2011

Senior citizens and small taxpayers will be out of scrutiny.


Appreciating the concern of these taxpayers and with a view to mitigate their hardships,  Central Board of Direct Taxes has reviewed its scrutiny selection procedure. In order to redress the grievance, it has been decided that during the financial year 2011-12, cases of senior citizens and small taxpayers, filing income-tax returns in ITR-1 and ITR-2 will be subjected to scrutiny only where the Income Tax department is in possession of credible information. 
Senior citizens for this purpose would be individual taxpayers who are 60 years of age or 
more. Small taxpayers would be individual and HUF taxpayers whose gross total income, before 
availing deductions under Chapter VIA, does not exceed Rupees ten lakh


View the CBDT Press Release.

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