ITR filing 2025: For senior citizens above the age of 60 years and 80 years, the Income Tax Department has given many types of concessions and different provisions. But it is very important for you to select the right ITR form.
ITR filing 2025: The selection of ITR form for senior citizens depends on their source of income and total income. The Income Tax Department has created different forms for different types of income, which they can choose according to their situation. Let us tell you, for senior citizens above the age of 60 years and 80 years, the Income Tax Department has given many types of concessions and different provisions. But it is very important for you to select the right ITR form so that they can tell their income correctly and also take advantage of tax exemption.
Exemption for senior citizens?
Senior citizens are given a discount of up to Rs 3,00,000, while a higher limit of Rs 5,00,000 is available for more senior citizens (people above 80 years of age). The exemption limit for non-senior citizens is limited to Rs 2,50,000.
Can they avoid filing their returns?
Let us tell you that senior citizens above 75 years of age whose only source of income is pension and interest in the same bank are exempted from filing income tax returns. But you have to keep in mind that first you have to complete a declaration through Form 12BBA and submit it to a specific bank. Only when they complete it, they can opt out of filing their income tax returns.
Which form to use?
Many people will be able to use ITR-1 (also known as SAJJ), which is for residents with a total income of less than Rs 50 lakh from salary, rental income, pension and other sources. It cannot be used by any senior citizen who is also a director in a company or holds equity shares at any time during the previous year. Along with this, people who have property outside India or who earn income from sources outside the country cannot use this form.
ITR-2, ITR-4 Form
ITR-2 If the income of a senior citizen includes income from shares or mutual funds or property of more than one house, then he should choose ITR-2 form. This form is also for those who have property or income abroad. ITR-3 If a senior citizen earns income from profession, then ITR-3 is suitable for him. Along with this, this form is also for those who do not fall under the purview of ITR-1, ITR-2 or ITR-4.
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