Senior citizens above 75 years can avoid filing ITR from next year

Instead, they will just have to make a declaration in Form 12BBA to their bank, which will deduct TDS

The Finance Act, 2021, has inserted Section 194P in the Income-Tax Act, 1961, exempting senior citizens of 75 years or above from filing income-tax return (ITR), provided they fulfil certain conditions.
 
The Central Board of Direct Taxes this week issued Income-Tax (I-T) Rule 26D, which specifies the procedures that banks and senior citizens must follow for the latter to claim exemption from tax filing.
 
Conditions apply
 
To avail of this benefit, the senior citizen must be 75 years of age or more. He/she should also have been a resident of India for tax purposes in the previous