ITR forms 2025-26: Which ITR form suits senior citizens for FY 2024-25? Here's what to know

As the tax filing season approaches, it is essential for senior citizens and super senior citizens to select the correct Income Tax Return (ITR) form, ensuring compliance and maximising benefits. Senior citizens, defined as those over 60, can enjoy a basic exemption limit of Rs 3 lakh under the Income-Tax Act, 1961, while super senior citizens, aged 80 and above, have a higher exemption limit of Rs 5 lakh. Importantly, for those opting for the New Tax Regime, this higher exemption is not available, with the basic limit remaining at Rs 3 lakh.

ITR forms

For pensioners with earnings below Rs 50 lakh from sources such as salary, pension, rental income, and interest, ITR-1, also known as Sahaj, is the recommended form. If income is derived from property, capital gains, or other sources beyond salary and pension, ITR-2 becomes relevant. Meanwhile, ITR-3 and ITR-4 are designed for those earning from business or professional income, with ITR-4 specifically catering to presumptive taxation under sections 44AD and 44ADA. Each form addresses distinct income scenarios, tailored to simplify the filing process for seniors.

Senior citizens should ensure comprehensive reporting of all income sources, including interest, commissions, and dividends, to avoid under-reporting and potential penalties. Many seniors mistakenly believe they need not file returns if tax is deducted at source (TDS) on income received. This is not right. 

Full disclosure is vital to prevent further examination by tax authorities. Additionally, senior citizens can take advantage of increased deductions such as health insurance premiums under Section 80D and interest income from deposits under Section 80TTB, alongside a standard deduction of up to Rs 50,000 against salary and pension income under Section 16(ia).

In the context of tax calculations, once taxable income is determined, the applicable tax rates are applied to ascertain the tax liability. Under the old tax regime, senior citizens benefit from higher exemption limits, unlike the new regime where such benefits are unavailable. This difference can significantly affect tax calculations, making it imperative for seniors to assess which regime offers better tax efficiency based on their financial situation and income sources.

The Income Tax Department has introduced specialised ITR forms specifically to cater to the needs of senior citizens, allowing for the seamless claiming of eligible exemptions and deductions. These forms are integral in helping seniors navigate the complexities of tax filing while securing the benefits they are entitled to under the Income Tax Act, 1961. By selecting the appropriate form and fully understanding the exemptions available, senior citizens can effectively manage their tax obligations and enjoy the allowances designed to support them in retirement.

Income Tax Slab for Senior Citizens

The tax slabs for senior citizens for FY 2023–24 (under Old Regime) are as follows: