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In her Budget speech for 2021-22, Finance Minister Nirmala Sitharaman announced that senior citizens above 75 years of age having only pension and interest income would not be required to file income tax returns. Banks paying the interest would deduct the tax on their behalf.
Parvatha Vardhini C, Head, Research Bureau, BusinessLine gives a brief overview of the changes on the personal finance front from the Union Budget 2021-2022.
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