ITR
Senior citizens aged 75 who may skip filing
Updated . Every paid answer is checked by a CA. Free AI answers are labelled until a CA verifies them.
Facts
A resident senior citizen aged 75 or more, whose only income is pension and interest from the same specified bank, can give a declaration to the bank. The bank computes and deducts tax, and the senior need not file a return.
Provisions and law
- Sec 194P, Income-tax Act 1961Specified bank computes tax after deductions and deducts it; the senior citizen is then exempt from filing (2025 Act number to be confirmed).
Analysis
He submits Form 12BBA to the bank where pension is credited. If he has interest from another bank, or rental income, the exemption does not apply and he must file if income exceeds the limit. Filing is still needed to claim a refund.
Conclusion
- Check that all pension and interest is from the same bank.
- Check age 75 or more and resident status.
- Submit Form 12BBA to the bank.
- Confirm the bank deducts the right tax.
- File a return if any other income exists or a refund is due.
A Savvy can do this for you
Income tax return for salaried and pensioners, ITR-1 (Sahaj)
₹999
Get this doneAsk a Savvy on WhatsAppGeneral guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.