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How to File Income Tax Return for Pensioners in India?

ITR for Pensioners and Retired Govt Employees

As per the IT Act, pension income from a former employer, whether government or private, comes under the head "Income from Salary," while family pension comes under the head "Income from Other Sources." Both are taxed as per the taxpayers’ eligible income tax slabs for senior citizens

If your income is below the basic exemption limit, you don’t have to pay any taxes. Check out the basic exemption limits for FY 2022-23 and FY 2023-24.

Age of the Taxpayer Amount of Income
(Old tax regime – FY 2022-23 and FY 2023-24)
Amount of Income
(New tax regime - FY 2022-23)
Amount of Income
(New tax regime - FY 2023-24)
Between 60 to 80 years ₹3,00,000 ₹2,50,000 ₹3,00,000
Above the age of 80 ₹5,00,000 ₹2,50,000 ₹3,00,000

How to File ITR Online for Pensioners?

ITR Form Applicable for Pensioners

Taxation Rules for Pensioners

TDS for Pension Income

ITR for Senior Citizens

ITR Form for Senior Citizens

Senior citizens can file any of the following ITR forms based on their eligibility; however, the most common is ITR-1. 

ITR Form Eligibility
ITR-1 (Sahaj) Salary or pension income up to ₹5 lakhs
Income from a house or own property
Income from any other source
Agricultural income up to ₹5000
ITR-2 Salary or pension income
Income from owned property or house
Capital gains
Income from other sources
Rebate scheme
Combined income of a spouse
ITR-3 Income from profits of business or profession
ITR-4 For Individuals, HUFs and Firms (other than LLP) being a resident having total income up to ₹50 lakhs and having income from business and profession which is computed under sections 44AD, 44ADA or 44AE

How to File Income Tax Return for Senior Citizens?

Documents Required to File ITR for Senior Citizens

Can ITR for Senior Citizens be Filed for Previous Years?

Last Date for Filing Income Tax Return for Senior Citizens

To avoid penalty for not filing ITR before the deadline, remember these important dates for filing income tax returns for FY 2022-23 (AY 2023-24): 

Category

Due Date for Tax Filing - FY 2022-23

Individual, HUF

31st July 2023

Revised ITR

31st December 2023

Belated/late ITR

31st December 2023

In conclusion, ITR filing for self-employed persons, senior citizens, and companies has been discussed above. The process for filing your ITR form first depends on which form you choose to fill in. You can disclose your returns based on the various criteria that are provided above. 

So, hurry now and fill in that income tax form!

FAQs about ITR for Pensioners, Retired Govt Employees & Senior Citizens