NRIs and senior citizens exempted from One-by-Six provisions

NRIs are now fully exempted from the provisions of the one-by-six income tax return filing scheme introduced in the last budget. Also, travel to neighbouring countries has been excluded from the criteria of foreign travel under the scheme , and senior citizens have been offered concessions under the scheme.

NRI's are now exempted from having to file returns even if they maintain the assets mentioned in the scheme in India.

Individuals aged 65 years and above(senior citizens), not engaged in any business or profession will not be required to file a return even if they meet the criteria on ownership of immovable property or subscription of a telephone. owever, they will have to file a return under the scheme if they fulfil any of the other four criteria.

Now travel to a foreign country for the purpose of the criteria under this scheme does not include travel to neighbouring countries: Bangladesh, Bhutan, Maldives, Nepal, Pakistan, and Sri Lanka. Also, travel to Saudi Arabia on Haj pilgrimage organised by Central Haj committee constituted under Haj committee Act,1959, and travel to China on pilgrimage to Kailash Mansarover organised by ministry of external affairs shall not be regarded as travel to any foreign country.

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