Senior Citizen Age, Condition for ITR filing Exemption

Jun 22, 2023 Rajeev Kumar

A resident individual aged 60 years or above but less than 80 years at any time during the previous year is considered as Senior Citizen for Income Tax purposes.

A resident individual resident aged 80 years or above, at any time during the previous year, is considered as Super Senior Citizen for tax purposes.

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Under Section 194P of the Income Tax Act, 1961, Senior Citizens are exempted from filing income tax returns if following conditions.

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- The senior citizen should be of age 75 years or above.

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- The senior Citizen should be a ‘Resident’ in the previous year

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- The Senior Citizen should have pension income and interest income only.

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- The interest income of such senior citizens should in the same specified bank in which s/he is receiving pension

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- The senior citizen will have submit a declaration to the specified bank.

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- The ‘specified bank’ will be responsible for the TDS deduction of senior citizens after considering the deductions under Chapter VI-A and rebate under 87A.

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- Once the specified bank, as mentioned above, deducts tax for senior citizens above 75 years of age, there will be no requirement to furnish income tax returns by senior citizens.

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