Senior citizens are the most vulnerable members of our society. A majority of senior citizens, after their retirement, depend on their savings. They deposit this hard-earned money in different National Savings schemes to cover their food, medicines and other expenses. Since they don’t have any multiple sources of income and have to rely on monthly profits, the authorities should exempt the profits derived by these schemes from tax. There is another thing that the authorities should look into. Many senior citizens are income tax filers who filed their returns when they were salaried and used to get a monthly income. A majority of them are not tech-savvy and cannot access the FBR website for filing income tax returns. In case they fail to file the returns in a timely, they receive notices from the FBR.
It will be better if senior citizens are exempted from taxes.
Muhammad Arif
Lahore
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