An individual resident who is 60 years or above in age but less than 80 years at any time during the previous year is ...

Adding further, many senior citizens mistakenly assume that filing returns isn't necessary if tax is already deducted at ...

Senior citizens are given an exemption limit up to Rs 3,00,000 while very senior citizens (people above the age of 80) have a ...

If you are de facto separate and taxed separately, the pension is ... received as income. Tax system (deduction of taxable income) of the compensatory benefit paid in the form of capital over ...

Selecting the incorrect Income Tax Return (ITR) form can result in incomplete reporting of information, potentially leading ...

Even couples in the same tax bracket may benefit from pension income splitting. That’s because allocating up to $2,000 in ...

As per the Income Tax Department website, individuals with a taxable income and non-auditable accounts are required to submit ...

Over 1.5 million state pensioners could be dragged into paying tax for the first time from next April in line with the triple ...

Experts have warned that payments may well rise by 5% or more next year, meaning the full new state pension will become subject to income tax. The triple lock guarantee ensures the state pension ...