The season of filing Income Tax Returns (ITR 2025) is in full swing. In such a situation, the senior citizens of our country need to understand which ITR form is best for them for the assessment year 2025-26 and how they can easily file their returns without any hassle.
The Income Tax Department has made many special concessions and provisions for senior citizens. But they need to choose the right ITR form, so that they can correctly declare their income and take full advantage of the available tax exemptions.
Know the age limit
According to the Income Tax Act, senior citizens are divided into two main categories so that they can get specific tax benefits:
Senior Citizens: Individuals between the ages of 60 and 80 fall in this category.
Very Senior Citizens: Individuals above 80 years of age fall in this category.
Under the old tax regime, senior citizens get income tax exemption on income up to ₹ 3 lakh. At the same time, very senior citizens get complete exemption from income tax on income up to ₹ 5,00,000. This is a big relief for them.
Which is the right ITR form for senior citizens
The choice of the right ITR form for senior citizens depends on their source of income and total income. Let’s understand which form is suitable for whom:
ITR-1
Individuals whose income is less than ₹ 50 lakh and have income from salary, rental income, pension or other sources, and are residents of India, can use this form.
ITR-2
If a senior citizen’s income includes capital gains (such as income from shares or mutual funds) or they have more than one house property, then they should choose the ITR-2 form. This form is also for those who have assets or income abroad.
ITR-3
If a senior citizen earns income from a business or profession, then ITR-3 is right for them. This form is also for those who do not fall under the purview of ITR-1, ITR-2, or ITR-4.
ITR-4
People who declare their income under presumptive taxation, such as those with income from a small business or profession, can opt for this form.
Which senior citizens are exempt from ITR filing
According to the Income Tax Act, citizens above 75 years of age whose only source of income is pension or interest can get exemption from filing income tax returns. For this, they have to give a declaration through Form 12BBA and submit it to their bank. The bank will calculate TDS (tax deduction at source) based on this declaration and eliminate the need for return filing.
What to do before filing returns
There are some important things to keep in mind before filing returns, so that the process becomes easier:
Keep the necessary documents ready
Form 16
Form 26AS
Bank statement
Interest certificate
Investment-related documents
These documents help in calculating income and tax correctly!
Choose a tax regime
Senior citizens also get the option to choose the old or new tax regime. If they want to choose the old regime, they have to submit Form 10-IEA. This option can be chosen every year, provided their income is not from business.
How to file an income tax return
Follow these easy steps to file your income tax return:
- First of all, go to the e-filing portal of the Income Tax Department.
- Select the appropriate ITR form on the portal that matches your source of income.
- Check the pre-filled data and enter your income details correctly.
- Check the tax calculation and TDS after adding all the deductions and exemptions.
- After verifying all the information, submit your return.
After submitting the return, it is very important to e-verify it! This can be done both online or offline! Without this, your return will be considered invalid.