news
People aged 60 years or above however beneath 80 are categorised as senior residents by the Revenue Tax Division. Those that are 80 years or older fall below a particular class referred to as ‘tremendous senior residents’.
What tax exemptions do they take pleasure in?
Senior residents get a better revenue tax exemption restrict of as much as Rs 3,00,000. For these above 80, referred to as tremendous senior residents, the restrict goes as much as Rs 5,00,000. As compared, the fundamental exemption for non-senior residents is Rs 2,50,000.
Revenue Tax Return (ITR) Types for Senior Residents in 2025-26
Senior residents with revenue below ₹50 lakh from wage, pension, hire, or curiosity can use ITR-1 (Sahaj). In the event that they earn from capital positive aspects, personal a number of properties, or produce other sources of revenue, ITR-2 is the precise possibility. For these with enterprise or skilled revenue, ITR-3 applies. In the event that they go for presumptive taxation below sections 44AD and 44ADA, ITR-4 is the shape to make use of.
How one can Pay Your Tax Dues Utilizing the e-Pay Tax Characteristic
It’s essential to clear your tax dues earlier than submitting your return whether or not you’re a person, salaried worker, or small enterprise proprietor. The e-Pay Tax characteristic on the Revenue Tax e-filing portal enables you to make funds shortly and securely. Right here’s a easy information that will help you get began:
How one can Use the e-Pay Tax Characteristic:
For Registered Customers:
Log in to the Revenue Tax e-filing portal.
Navigate to the ‘e-File’ tab and choose ‘e-Pay Tax’.
Click on on ‘New Fee’ and select the related evaluation yr (2025-26).
Choose the cost sort—self-assessment, advance tax, or others.
Enter your particulars, together with PAN, deal with, and tax breakdown.
Select a cost methodology (web banking, debit card, UPI, NEFT/RTGS, or cost gateway).
Evaluate your info and submit.
As soon as the transaction is profitable, obtain the challan receipt to your information.
