Answer

1. F

   Facts

   A resident senior citizen aged 75 or more who has only pension and interest from the same specified bank, and has given the declaration to that bank, need not file a return. Otherwise the normal filing rules apply.

2. P

   Provisions and law

   • Sec 194P, Income-tax Act 1961Specified bank deducts tax for resident seniors aged 75 or above with only pension and interest from that bank, and no return is then needed.
   • e-Filing portal, Compliance Portal (e-Campaign)Taxpayers view and answer e-campaigns and e-verifications through Pending Actions on the e-Filing portal.
3. A

   Analysis

   If her pension and FDs are in the same specified bank and the declaration was given, respond that no return is required and give the reason. If her FDs are in other banks too, she does not qualify for this exemption. Then check whether her income is above the exemption limit and file a return if needed. Senior citizens also get a higher exemption limit under the old regime.

4. C

   Conclusion

   1. 1Check if pension and interest come from one specified bank.
   2. 2Confirm the declaration was given to the bank.
   3. 3If yes, respond that no return was required.
   4. 4If not, compute income and file a return if needed.

General guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.