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Kelkar to go soft on senior citizens

The Kelkar panel on direct taxes is likely to recommend a higher exemption limit of Rs 1,20,000 per annum for senior citizens instead of Rs 1,00,000 per annum proposed in the consultation paper for all individuals and HUF's.

Also, those senior citizens falling within the exemption limit would be waived from filing income tax returns. At present senior citizens are eligible for a tax rebate of Rs 15,000. While the consultation paper had recommended the elimination of the tax rebate, the increase in exemption limit would provide some relief to senior citizens.

BL Research Bureau

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