Exemption from payment of Income Tax to Pensioners who have attained age of 80 years or more: 48th NC JCM Meeting

Exemption from payment of Income Tax to Pensioners who have attained age of 80 years or more: 48th NC JCM Meeting

Minutes of the 48th Meeting of the National Council (JCM) held on 26.06.2021 vide DoP&T OM No.3/4/2021-JCA dated 14th July, 2021

5.18 Item No. NC-47/36/19: Exemption from payment of Income Tax to Pensioners who have attained age of 80 years or more.

In the previous meeting, the Official Side had informed that it is not feasible to agree to this demand. However, Chairman had observed that the D/ o Revenue may examine feasibility of exempting persons above 80 years from filing Income Tax Returns, by devising alternative safeguards.

JS, D/ o Revenue informed that the exemption limit for the pensioners aged 80 and above is Rs. 5 lakh, & that very senior citizen pensioners are also entitled for standard deduction of Rs.50,000 or the amount of pension , whichever is less; deduction of Rs. 50,000 under Section 800 of the IT Act for health insurance premium and / or medical expenditure; deduction of Rs. 1 lakh for medical expenditure in respect of certain critical illnesses under section 80DDB; & relaxation from filling of returns on fulfillment of certain conditions.

Shri J.R. Bhosle, Staff Side, requested to exempt all senior citizen pensioners of 80 years and above, from the payment of Income Tax. Chairman stated that at the time of preparation of Budget , all the aspects are taken into consideration , in order to balance the revenue and expenditure considerations and appropriate decisions taken by the Ministry of Finance.

Decision: Item to be closed.