Urgent Income Tax Alert: Which ITR Form Should Pensioners File?

MP Kesari Desk: With the tax filing deadline rapidly approaching, senior citizens and super senior citizens must carefully select the right Income Tax Return (ITR) form to prevent unwanted notice letters from the Income Tax Department.

Filing under an incorrect format can lead to processing delays or even a total rejection of valid senior citizen tax deductions.

Breaking Down the Tax Form Criteria for Senior Citizens

• ITR-1 (Sahaj): Ideal for pensioners whose total annual income stays below ₹50 lakh, originating solely from a standard pension, one house property, or interest from bank fixed deposits (Income from Other Sources).

• ITR-2: Mandated for pensioners who have generated short-term or long-term capital gains from selling property, equities, or mutual fund assets during the financial year.

• ITR-3 / ITR-4 (Sugam): Required only if a senior citizen generates business or professional revenue alongside their pension, such as operating a local retail store or offering independent consultancy services.