Which ITR form is applicable for senior citizens?

Summary: Under the Income Tax Act, senior citizens are categorized as those aged 60 or more but under 80, while super senior citizens are those aged 80 and above. For the Financial Year 2024-25 (Assessment Year 2025-26), senior and super senior citizens benefit from specific tax slabs and exemptions. Senior citizens have different tax slabs under the old and new tax regimes, with exemptions up to INR 3 lakhs and up to INR 5 lakhs for super senior citizens under the old regime. Section 194P offers conditional exemption from filing Income Tax Returns (ITR) for senior citizens aged 75 or above with pension and interest income from specified banks. Depending on their income sources and eligibility, senior citizens must file using ITR-1, ITR-2, ITR-3, or ITR-4 forms. Notable exemptions include no advance tax requirement for residents without business income.

Income Tax Act bifurcates senior citizens into following two categories –

1. Senior citizens – A resident individual who is 60 years or more in age but less than 80 years in age at any time during the previous year is termed as ‘Senior Citizen’; and

2. Super senior citizens – A resident individual who is 80 years or more in age at any time during the previous year is termed as ‘Super Senior Citizen’.

The present article highlights income tax rates as applicable to senior and super senior citizens for Financial Year 2024-205 [Assessment Year 2025-206]; conditional exemption available to senior citizens from filing ITR and ITR forms as applicable to senior citizens.

1. Income tax rates for senior and super senior citizens

Income tax rates as applicable to both senior and super senior citizens under old and new tax regime is highlighted hereunder –

a. Income tax rates for ‘senior citizens’ under ‘old tax regime’ for F.Y. 2024-2025 [A.Y. 2025-2026]

Income Tax Slab	Income Tax Rates
Up to INR 3 Lakh	NIL
Between INR 3 Lakh and INR 5 Lakh	5%
Between INR 5 Lakh and INR 10 Lakh	20%
Above INR 10 Lakh	30%

b. Income tax rates for ‘senior citizens’ under ‘new tax regime’ for F.Y. 2024-2025 [A.Y. 2025-2026]

Income Tax Slab	Income Tax Rates
Up to INR 3 Lakh	NIL
Between INR 3 Lakh and INR 7 Lakh	5%
Between INR 7 Lakh and INR 10 Lakh	10%
Between INR 10 Lakh and INR 12 Lakh	15%
Between INR 12 Lakh and INR 15 Lakh	20%
Above INR 15 Lakh	30%

c. Income tax rates for ‘super senior citizens’ under ‘old tax regime’ for F.Y. 2024-2025 [A.Y. 2025-2026]

Income Tax Slab	Income Tax Rates
Up to INR 5 Lakh	NIL
Between INR 5 Lakh and INR 10 Lakh	20%
Above INR 10 Lakh	30%

d. Income tax rates for ‘super senior citizens’ under ‘new tax regime’ for F.Y. 2024-2025 [A.Y. 2025-2026]

Income Tax Slab	Income Tax Rates
Up to INR 3 Lakh	NIL
Between INR 3 Lakh and INR 7 Lakh	5%
Between INR 7 Lakh and INR 10 Lakh	10%
Between INR 10 Lakh and INR 12 Lakh	15%
Between INR 12 Lakh and INR 15 Lakh	20%
Above INR 15 Lakh	30%

2. Conditional exemption available to senior citizens from filing ITR

Finance Act, 2021 introduced section 194P under the Income Tax Act. Basically, section 194P provided exemption to senior citizens from filing Income Tax Return (ITR) provided the following conditions are satisfied –

Condition 1 – Age of senior citizen should be 75 years or above;

Condition 2 – Senior citizen should be resident during the respective previous year;

Condition 3 – Senior citizen should be earning the following incomes only –

• Pension income; and
• Interest income [notably, such interest income should have been earned from the same specified bank in which pension is received].

If the above conditions are satisfied, senior citizen is required to submit a declaration to the specified bank. Importantly, the specified bank will be responsible for deduction of TDS of senior citizen after taking into consideration rebate available u/s. 87A and deductions available under Chapter VI-A.

Post deduction of TDS by the specified bank, senior citizen are exempted from filing income tax returns in terms of section 194P with effect from 1^st April 2021.

3. ITR forms applicable for senior citizens

Following table summarizes the ITR forms applicable for senior citizens –

ITR Forms	Applicability and non-applicability thereof
ITR-1	– ITR-1 is applicable to senior citizens if – 1. Senior Citizen is a Resident (other than not ordinarily resident); 2. Income is derived from Salary, house property, agricultural income up to INR 5,000 or income from other source; and 3. Income from all the above sources is up to INR 50 Lakhs. – ITR-1 is not applicable to senior citizen if – 1. He/ she is a director in a company; 2. He/ she has income from any source outside India; 3. He/ she is a signing authority in any account which is located outside India; 4. He/ she has any asset which is located outside India; 5. He/ she has held any unlisted equity share; 6. Tax has been deduction u/s. 194N of the Income Tax Act; 7. Payment/ deduction of tax has been deferred on ESOP.
ITR-2	ITR-2 is applicable to senior citizens if – 1. Income is not derived under the head profits and gains of business or profession; and 2. Senior citizen is not eligible for filing return in ITR-1.
ITR-3	ITR-3 is applicable to senior citizens if – 1. Income is derived under the head profits and gains of business or profession; and 2. Senior citizen is not eligible for filing return in ITR-1; ITR-2 or ITR-4.
ITR-4	– ITR-4 is applicable to senior citizens if – 1. Senior Citizen is a Resident (other than not ordinarily resident) 2. Income is derived from Salary; house property; income from other source; agricultural income up to INR 5,000 or income from business or profession computed on presumptive basis u/s. 44AD, u/s. 44ADA or u/s. 44AE; and 3. Income from all the above sources is up to INR 50 Lakhs. – ITR-1 is not applicable to senior citizen if – 1. He/ she is a director in a company; 2. He/ she has income from any source outside India; 3. He/ she is a signing authority in any account which is located outside India; 4. He/ she has any asset which is located outside India; 5. He/ she has held any unlisted equity share; 6. Payment/ deduction of tax has been deferred on ESOP.

4. Frequently Asked Questions [FAQs] related to applicable ITR form for senior citizens

Q.1 What is tax exemption for senior citizens?

Ans. Tax exemption for senior citizens under both the regimes i.e. old tax regime and new tax regime is INR 3 Lakhs. Whereas, tax exemption for super senior citizens under old tax regime is INR 5 Lakhs and under new tax regime is INR 3 Lakhs.

Q.2 What is new tax regime for senior citizens?

Ans. New tax regime for senior citizens (including super senior citizens) is tabulated hereunder –

Income Tax Slab	New tax regime tax rates
Up to INR 3,00,000	NIL
INR 3,00,001 to INR 7,00,000	5%
INR 7,00,001 to INR 10,00,000	10%
INR 10,00,001 to INR 12,00,000	15%
INR 12,00,001 to INR 15,00,000	20%
Above INR 15,00,000	30%

Q.3 How to file Income Tax Return for senior citizens?

Ans. On the basis of eligibility, senior citizens will have to file Income Tax Return via online filing of ITR-1 or ITR-2 or ITR-3 or ITR-4. Notably, if the conditions of section 194P are satisfied by the senior citizen, then, he is exempted from filing the return.

Q.4 How much is the exemption amount for pensioners?

Ans. Pensioners are eligible for exemption of INR 3 Lakhs in case the pensioners qualify as senior citizen. Whereas, exemption of INR 5 Lakhs (old tax regime) and INR 3 Lakhs (new tax regime) are available in case the pensioners qualifies as super senior citizen.

Q.5 Who cannot use ITR-2?

Ans. Senior citizens having income under the head ‘Profits and Gains from Business or Profession’ cannot use ITR-2.

Q.6 Who is eligible for ITR-3?

Ans. Senior citizens having income derived under the head ‘Profits and Gains from Business or Profession’ are eligible for ITR-3 provided they are ineligible to file ITR-1 or ITR-2 or ITR-4.

Q.7 Do senior citizens have to pay advance tax?

Ans. Provisions of section 207 of the Income Tax Act exempt senior citizens from payment of advance tax provided following conditions are satisfied –

• Senior citizen is a resident individual; and
• Senior citizen has not derived income from business or profession.