The Inland Revenue Department (IRD) of Sri Lanka has introduced a significant financial relief initiative designed to support the well-being of senior citizens aged 60 and above. In a statement, the department underlined the purpose of the program, which is to provide financial assistance to the state’s senior citizens.
Key highlights of the program include:
Eligibility: All senior citizens aged 60 or above, with an annual income not exceeding Rs. 1,200,000 (for the period from April 1st to March 31st of the following year), and who have had Advance Income Tax (AIT) deducted from their interest income at a rate of 5% by banks or financial institutions, are eligible to apply for the refund.
Refund Limits: Senior citizens can claim a maximum refund of up to Rs. 25,000 per quarter. This provision ensures that eligible individuals can benefit from this initiative throughout the year, covering the period from April 1st, 2023, to March 31st, 2024.
Mode of Refund: The refund amount will be directly deposited into the designated bank account of the senior citizen, ensuring a secure and efficient delivery.
Application Process: Interested individuals can apply for the refund by completing simple application forms available on the IRD’s website (www.ird.gov.lk) or by visiting the nearest metropolitan or regional office.
Documentation: Applicants will need to provide supporting documentation, including copies of their identification, proof of age, bank statements reflecting interest income, and documents confirming the Advance Income Tax deductions.
Review and Processing: After the application is submitted, the IRD will review the documents and verify the eligibility criteria.
Assistance: The IRD is dedicated to providing guidance and assistance throughout the application process, with customer support teams available at metropolitan and regional offices to offer support as needed.
For more detailed information about the Senior Citizens’ Advance Income Tax Refund Program, individuals can visit www.ird.gov.lk or contact the IRD’s Call Center by dialing 1944. This initiative aims to provide much-needed financial relief and support to senior citizens in Sri Lanka.
