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  1. Business News
  2. About
  3. income tax for senior citizens

Income Tax for Senior Citizens

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Pensioners should evaluate the choice between the old and new tax regimes based on their income profile, deductions, and exemptions, rather than assuming that one regime is automatically more beneficial.
ITR 2026: Are pensioners eligible for the same standard deduction as salaried employees?

Pension received by a retired employee is treated as salary income under the provisions of the Act and is taxable…

June 16, 2026 19:01 IST
As the tax filing season arrives, knowing which regime leads to a lower tax outgo at different income levels can help them figure out a smart decision before filing their ITR for FY26.
Senior citizens’ tax planning: Which regime works best for Rs 15 lakh, Rs 20 lakh, and Rs 25 lakh annual income?

Across the Rs 15 to 25 lakh income range, the New Tax Regime (NTR) emerges as a suitable option for…

June 8, 2026 18:23 IST
Pensioners should evaluate the choice between the old and new tax regimes based on their income profile, deductions, and exemptions, rather than assuming that one regime is automatically more beneficial.
Which ITR form is right for senior citizens when filing their income tax return?

Choosing an incorrect form may render the return defective and could potentially lead to delays, notices, or compliance-related concerns, so…

June 4, 2026 18:58 IST
If the bank registers an incorrect PAN, the TDS and interest income will not reflect in the senior citizen’s Form 26AS at all.
Breaking an FD? Why senior citizens must check Form 26AS first to avoid tax trouble

Banks are mandated to deduct Tax Deducted at Source (TDS) under the Income-tax laws if the total interest earned on…

May 29, 2026 20:59 IST
No ITR filing needed: These taxpayers are exempt from using this form under the Income Tax Act 2025
No ITR filing needed: These taxpayers are exempt from filing by using this form under Income Tax Act 2025

No ITR filing required? Check who qualifies for exemption under Section 194P, how Form 125 works, and which senior citizens…

May 24, 2026 19:34 IST
Budget 2026: Will senior citizens get bigger tax breaks on FD interest and medical costs?
Big tax relief for seniors in Budget 2026? Higher FD interest exemption, healthcare support under watch

With Budget 2026 just days away, senior citizens are hoping for targeted relief on interest income, healthcare costs and insurance…

January 26, 2026 16:23 IST
ITR filing 2025: September 15 last date to avoid Rs 5,000 fine – Know who must file tax return now
ITR filing 2025: September 15 last date to avoid Rs 5,000 fine – Know who must file tax return now

Taxpayers were given an additional 1.5 months to file their returns without penalties after facing ‘unprecedented hardships’ due to multiple…

September 6, 2025 16:15 IST
Revised New Income Tax Bill, 2025: Here are 10 major changes likely in Bill to be tabled today
Revised New Income Tax Bill, 2025: Here are 10 major changes likely in Bill to be tabled today

The government has withdrawn the old draft of the Income Tax Bill, 2025 and will present a revised version in…

August 11, 2025 09:00 IST
ITR hacks for senior citizens: Don't miss THESE tax benefits available for pensioners in 2025
ITR hacks for senior citizens: Don’t miss THESE tax benefits available for pensioners in 2025

In this story, we will discuss about the various tax benefits available for senior citizens those availing retirement benefits like…

May 26, 2025 12:16 IST
ITR filing for FY 2024-25 (AY 2025-26): Due dates, forms and what to do if you miss the deadline
ITR filing for FY 2024-25 (AY 2025-26): Due dates, forms and what to do if you miss the deadline

Typically, the ITR filing process begins on April 1 of the assessment year. Accordingly, for FY 2024–25, filing should have…

Updated: May 28, 2025 06:39 IST
ITR Filing 2025: THESE individuals are exempt from paying income tax. Should they file ITR?

With ITR Forms 1 to 7 now notified by the Central Board of Direct Taxes (CBDT), taxpayers are eagerly waiting…

Updated: May 28, 2025 06:43 IST
ITR return, income tax return
ITR-6: Who should use it and who shouldn’t for AY 2025–26

The income tax department has notified all seven income tax return forms for assessment year 2025-26.

May 14, 2025 18:13 IST
ITR Filing
ITR Filing 2025: Common mistakes that can cost you big

With ITR forms for FY 2024-25 already available, now is the ideal time to prepare and avoid last-minute mistakes.

Updated: May 25, 2025 22:29 IST
Income Tax Return 2025
Income Tax Returns AY2025-26: Key Documents Required to File ITR

It is not necessary to attach any documents while filing your returns. However the details given in various documents will…

April 17, 2025 22:58 IST

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