Union Budget 2021: What major changes were made in the Income Tax Returns System?

Presenting the Union Budget for FY21-22, Finance Minister Nirmala Sitharaman today proposed no filing of Income Tax Return (ITR) by senior citizens who are above 75 years of age and have only pension and interest income. Pension from the ex-employer is taxed under the income tax head of Salary while family pension is taxed as ‘income from other sources’.