1. Income Tax return: A few essential facts for senior citizens to keep in mind

Income Tax return: A few essential facts for senior citizens to keep in mind

Income Tax efiling for senior citizens: A senior citizen is the one who is of the age of 60 years and above, while those above 80 years of age are classified as super senior citizens.

By: | Updated: July 27, 2017 4:09 PM
Income tax, Income tax e-filing, senior citizens,  ITR-2 form online, enior citizens earning income, ITR , Income tax department, Income Tax Returns Individuals who are of the age of 80 years and above are liable to pay income tax if their income exceeds Rs 5 lakh.

Income Tax efiling for senior citizens: A senior citizen is the one who is of the age of 60 years and above, while those above 80 years of age are classified as super senior citizens. Senior citizens who are 60 years and above do not have to pay income tax if their income is less than Rs 3 lakh per annum. Individuals who are of the age of 80 years and above are liable to pay income tax if their income exceeds Rs 5 lakh.

The process of filing income tax returns (ITR) is the same for all citizens. Individuals must file and submit their returns online. Income sources for senior citizens usually comprise pension income, interest from bank, dividends, or rent income in certain cases. They must file the ITR-1 form online if their income is over Rs 3 lakh and if they earn rental income from one or more house property. Senior citizens earning income from other sources and capital gains from business or profession in addition to salary, pension or rent income from property holdings must file returns by submitting the ITR-2 form online.

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Filing tax returns online is simple and can also be done by individuals who aren’t tech-savvy. All they need to do is visit the Income Tax Department’s website, download the form, fill the relevant columns with the specific details, and submit it. Individuals can also file their ITR through any third-party e-filing website that also assists in calculating income tax amounts and provides professional advice through the process. In case they find it difficult to file the return themselves and need additional expert advice, it is best to consult a chartered accountant to help them with the process.

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Income Tax Returns can also be filed after the due date in case an individual is unable to file it due to unavoidable circumstances. In such cases, the return can be filed under Section 139 (4) before the assessment year or before the completion of assessment (whichever is earlier).

In case an individual wants to check the status of Income Tax Refund, they can do so on the website of the Income Tax Department. They can check the status after 10 days from the date the refund is sent by entering their Permanent Account Number and selecting the assessment year. However, a refund is disbursed only after the ITR is fully processed, which may take up to a year.

The option to file the return offline is given to super senior citizens, i.e. individuals who are 80-year old and above during the financial year. Another instance wherein ITR can be filed offline is if an individual or Hindu Undivided Family (HUF) has an income not exceeding Rs 5 lakh and is not claiming any refund.
Our website also helps make Income Tax Return filing simpler by offering free e-filing assistance for senior citizens.
(The author is Founder & CEO, ClearTax.com)

  1. S
    suresh
    Aug 22, 2017 at 2:45 pm
    Sir my mother is Super Senior Citizen and has income in the range of 5 lakh only from her family pension as well as interest from the TDR in the bank from where she is drawing her Pension, My question is that since she is around 84 years of age and does not have Adhar Card as her finger Prints does not come and she is not in position to go out for giving another try to get herself adhar registered on account of frail health what is the way out for her to file her Tax Return. Kindly advise if there is any way out for the same. I am her son and writing to you on her behalf. If possible please guide and advise under which rule she can file her ITR without linking to Adhar. Suresh Pareek s23pareek
    Reply
    1. n
      n.sampathkumar
      Jul 10, 2017 at 9:14 pm
      i like financial express there news easily understandable
      Reply
      1. K
        K S Rana
        Jul 10, 2017 at 10:04 am
        The write up in your articles are very helpful. However, clarity on exempted income needs more light. Income earned thru agriculture and rental income in rural areas needs clarity. Where do we show if d income of a person is exempt due to disability. Thanx doing an excellent job n service to the tax payers.
        Reply
        1. A
          Ajit Kumar Pateriya
          Jul 10, 2017 at 5:31 am
          Very nice and important information to all senior citizen.Thanks
          Reply
          1. C
            CMJ
            Jul 9, 2017 at 8:49 pm
            senior citizen pensioners having 7th pay revised pension arrears wef.1st Jan 2016 received on 8th March 2017 should be guided to fill form 10e to get relief in tax.
            Reply
            1. N
              Neeraj tolani
              Jul 9, 2017 at 2:42 pm
              it is better to consult a ICWA or CMA than CA.CA are fraudsters.CA are worst than bcom.ICWA OR CMA is much better than ca from all aspects.
              Reply
              1. P
                Priyanka yadav
                Jul 10, 2017 at 8:36 am
                Why u think so?
                Reply
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