With reference to the recent Budget 2021 announcements by Union Finance Minister Nirmala Sitharaman, I wonder how many senior citizens, aged 75 and above, will stand to benefit by exempting only those with pension income and interest from the concerned bank, from filing their annual tax returns (ITR) with the Income Tax department. In these days of rising inflation and high cost of living, dwindling rates of interests in public sector banks and measly government pensions, one can hardly expect to find senior citizens making a livelihood without other sources of income such as investing in private companies, mutual funds and other schemes to shore up their depleted incomes. This automatically disqualifies them from obtaining any concessions or relief from filing their tax returns with the Income Tax department. Instead, it would have been appreciated if a few tax concessions were made to the above category.
