Faq 75 Plus No ITR Filing
India-specific preparation guide
Faq 75 Plus No ITR Filing needs current-law checks, portal verification, documents and a precise brief before you compare experts on the WorkIndex work index.
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Faq 75 Plus No ITR Filing is best handled after identifying the exact scope, period, applicable portal and documents. Use this page to prepare a sharper expert brief instead of relying on generic summaries.
- Identify the exact period, assessment year or tax year, income head, entity type and portal status before applying Faq 75 Plus No ITR Filing.
- Reconcile source data such as AIS/TIS, Form 26AS, books, bank statements, invoices, notices and prior returns.
- Ask the expert to flag regime choice, deduction limits, disclosure schedules, penalty exposure and expected deliverables.
- Do not rely on old blog summaries where forms, deadlines, sections or portal utilities have changed.
Accuracy notes before you act
- Under the default New Tax Regime (FY 2025-26), the basic exemption limit is ₹4,00,000 for all individuals, including senior citizens. The Old Tax Regime retains the basic exemption of ₹3,00,000 for senior citizens (aged 60-79) and ₹5,00,000 for super senior citizens (aged 80+).
- Section 80TTB provides a deduction of up to ₹50,000 on bank/post-office savings and FD interest under the Old Regime. Budget 2026 / Finance Act 2026 proposes to double this interest deduction limit to ₹1,00,000.
- Section 194P / Form 125 exempts senior citizens aged 75+ from filing ITR if their only income is pension and interest from the same specified bank (the bank computes tax and deducts TDS).
- Form 15H is a self-declaration for senior citizens (60+) to prevent TDS on interest, and can be submitted online. Senior citizens without business income are exempt from paying advance tax under Section 207.
Documents and facts to keep ready
- PAN, Aadhaar, GSTIN, CIN/LLPIN, TAN or registration details where applicable.
- Relevant financial year, assessment year, tax year, return period, due date and notice number.
- Books, invoices, payroll, bank statements, contracts, prior filings and portal screenshots.
- Expected output: filing, registration, correction, advisory memo, notice response, audit report or recurring compliance.
Common mistakes to avoid
- Using an old due date, old section number or old form without checking the live portal.
- Posting a vague requirement without period, entity type, city, documents and deadline.
- Comparing quotes without clarifying government fee, professional fee and exclusions.
- Skipping reconciliation with AIS/TIS, books, Form 26AS, GST data or bank records.
- Treating explanatory SEO content as final tax, legal, audit or investment advice.
Frequently Asked Questions
1. What is the age criteria to be classified as a senior citizen under the Income Tax Act?
An individual who is a resident of India and is aged 60 years or more but less than 80 years at any time during the financial year is a senior citizen. An individual aged 80 years or more is a super senior citizen.
2. What are the basic tax exemption limits for senior citizens in FY 2025-26?
Under the default New Tax Regime, the basic exemption limit is ₹4,00,000 for everyone, regardless of age. Under the Old Tax Regime, it is ₹3,00,000 for senior citizens and ₹5,00,000 for super senior citizens.
3. What is Section 80TTB, and how does it benefit senior citizens for 75 Plus No Itr Filing?
Section 80TTB allows senior citizens to claim a deduction of up to ₹50,000 (increased to ₹1,00,000 from FY 2026-27/Budget 2026) on interest income earned from savings accounts, fixed deposits, and recurring deposits with banks, co-operative societies, and post offices. It is only available under the Old Tax Regime.
4. What is the difference between Section 80TTA and Section 80TTB?
Section 80TTA applies to individuals under 60 and offers up to ₹10,000 deduction on savings account interest only. Section 80TTB applies exclusively to senior citizens (60+) and offers up to ₹50,000 deduction on both savings and FD/RD interest.
5. What is Section 194P, and who is exempt from filing ITR under it?
Section 194P exempts senior citizens aged 75 and above from filing their ITR if: (1) They are residents, (2) Their only income is pension and interest from the same specified bank, and (3) They submit a declaration in Form 125 to that bank. The bank then computes tax and deducts TDS.
6. What is Form 125 under the Income Tax Act?
Form 125 is the official declaration form submitted by a senior citizen (aged 75+) to a specified bank under Section 194P, authorizing the bank to compute their total income and deduct tax, thereby exempting them from filing ITR.
7. What is Form 15H, and when should a senior citizen submit it?
Form 15H is a self-declaration form submitted by senior citizens (aged 60+) to banks or financial institutions to request nil TDS on interest income under Section 197A(1C), provided their estimated net tax liability for the financial year is nil.
8. How does Form 15H differ from Form 15G?
Form 15G is for individuals below 60 years of age (and HUFs), and cannot be submitted if total interest income exceeds the basic exemption limit. Form 15H is exclusively for senior citizens (60+) and has no such interest-income restriction, provided the final tax liability is nil.
9. What is the due date for submitting Form 15H?
Form 15H should be submitted at the start of each financial year (in April) to ensure that the bank does not deduct TDS on interest paid throughout the year. If submitted late, TDS already deducted can only be recovered by filing an ITR.
10. Are senior citizens exempt from paying Advance Tax?
Yes. Under Section 207, a resident senior citizen (aged 60+) who does not have any income under the head 'Profits and Gains of Business or Profession' is exempt from paying advance tax and can pay their entire tax as self-assessment tax.
11. What is the Section 80D medical deduction limit for senior citizens?
Under the Old Tax Regime, senior citizens can claim up to ₹50,000 deduction for health insurance premiums, preventive health check-ups, or actual medical expenditure (if no insurance is held) under Section 80D.
12. Can parents' medical bills be claimed under Section 80D?
Yes. If you pay medical insurance premiums or medical expenses for senior citizen parents, you can claim an additional deduction of up to ₹50,000 under Section 80D (Old Tax Regime), allowing a combined deduction of up to ₹1,00,000 if both you and your parents are seniors.
13. What is Section 80DDB, and what is the limit for senior citizens?
Section 80DDB allows a deduction for expenses incurred on the medical treatment of specified neurological or critical illnesses. For senior citizens, the deduction limit is up to ₹1,00,000 (compared to ₹40,000 for others).
14. Is standard deduction available on pension income for senior citizens?
Yes. Salaried pensioners receiving pension from their former employer are eligible for a standard deduction of ₹75,000 under the default New Tax Regime (FY 2025-26) and ₹50,000 under the Old Tax Regime.
15. Does the SCSS (Senior Citizen Savings Scheme) offer tax benefits?
Yes. Investments in SCSS qualify for a deduction of up to ₹1,500,000 under Section 80C (Old Tax Regime only). However, the interest earned on SCSS is taxable, subject to the Section 80TTB deduction.