This blog post provides an essential guide for senior citizens regarding their tax filing for Assessment Year 2025-26 (FY 2024-25). It explains the choice between Old and New tax regimes, highlights key tax benefits like higher exemption limits and specific deductions (80TTB, 80D), details the ITR filing exemption under Section 194P for those aged 75+, clarifies applicable ITR forms, and touches upon important upcoming changes for AY 2026-27, empowering seniors with crucial tax information.

The 2025 Budget is expected to bring transformative tax benefits for senior citizens, increasing the exemption limit to ₹5 lakh and introducing zero tax liability on income up to ₹10 lakh under the old tax regime. These changes aim to enhance financial stability, encourage savings, and simplify tax compliance for senior citizens.