Seniors citizens must disclose all forms of income in ITR to avoid charge

Review forms 26AS and Annual Information Statement to see if you are eligible for refund of TDS

Indian tax laws offer a number of benefits to senior citizens who should be aware of them at the time of making tax-saving investments and while filing their Income-Tax Returns (ITRs). They should avoid common mistakes while carrying out this task.

Who is a senior citizen?

There are two categories for tax purposes: senior citizens and super senior citizens. “Resident individuals aged 60 years or more (but below 80 years) during the year are classified as ‘senior citizens’, while resident individuals aged 80 years or more during the year are classified as ‘super senior citizens’. The basic exemption limit is