ITR Filing Last Date AY 2024-25: The deadline to file Income Tax Return (ITR) for the Assessment Year 2024-25 is still 31 July and the government may not change this despite demands from individual taxpayers and tax professionals to extend the last date by at least a month.

Even though there are still complaints regarding technical glitches on the e-filing portal faced by income tax return filers, the overall data suggest that more than 5 crore taxpayers have filed ITRs so far this year, which is more than the number of tax return filers at this point last year.

Who are exempt from filing ITRs for FY 2024-25?

The Income Tax Department allows senior citizens above a certain age to not file an income tax return provided they meet specific conditions under the Income Tax Act, 1961.

Also read: Should you file ITR if your total income less than Rs 5 lakh?

The Income Tax Department provides specific exemptions to senior citizens and super senior citizens under the Income Tax Act, 1961. Senior citizens are also allowed to fill out specialised ITR forms with tax exemptions. Senior citizens and super senior citizens are exempted from the obligation to file income tax returns under certain conditions. But first, let us understand who are considered senior citizens and super senior citizens for income tax return filing purposes.

An individual resident who is 60 years or above but less than 80 years at any time during the previous year is considered a senior citizen for income tax purposes. A super senior citizen is an individual resident who is 80 years or older at any time during the previous year.

Section 194P of the Income Tax Act, 1961 provides conditions for exempting senior citizens from filing income tax returns aged 75 years and above.

Conditions for exemption from filing income tax returns are:

a. Senior citizen should be of age 75 years or above;

b. Senior citizen should be ‘Resident’ in the previous year;

c. Senior citizen has pension income and interest income only & interest income accrued / earned from the same specified bank in which he is receiving his pension;

d. The senior citizen will submit a declaration to the specified bank;

e. The bank is a ‘specified bank’ as notified by the central government. Such banks will be responsible for the TDS deduction of senior citizens after considering the deductions under Chapter VI-A and rebate under 87A.

f. Once the specified bank, as mentioned above, deducts tax for senior citizens above 75 years of age, there will be no requirement to furnish income tax returns by senior citizens.