Senior Citizen and Super Senior Citizen Definitions
An individual resident who is 60 years or above in age but less than 80 years at any time during the previous year is considered as Senior Citizen for Income Tax purposes. A Super Senior Citizen is an individual resident who is 80 years or above, at any time during the previous year.
Tax Exemption for Senior Citizens Aged 75 and Above
Section 194P of the Income Tax Act, 1961 provides conditions for exempting Senior Citizens from filing income tax returns aged 75 years and above. The conditions for exemption require that the senior citizen is 75 years or above, is a resident in the previous year, and has pension income and interest income only, with interest income accrued or earned from the same specified bank in which the pension is received. The senior citizen must submit a declaration to the specified bank, which is responsible for TDS deduction after considering Chapter VI-A deductions and Section 87A rebate. Once tax is deducted by the specified bank, there is no requirement to furnish income tax returns.