Existing ITR laws provide relief to certain groups residing in various parts of India as well as people earning below specified thresholds.

Taxpayers can now file their returns on the Income Tax portal for assessment year 2025-26. Failure to submit the relevant form and declare your financial gains can incur legal repercussions — even if you are exempt from actually paying taxes. Existing ITR laws however provide relief to certain groups residing in various parts of India as well as people earning below specified thresholds.

According to the Income Tax Department website, every person having a taxable income and whose accounts are not liable to audit must file an Income Tax Return. Those who are exempted from paying taxes because their earnings are lower than the taxation limit will subsequently receive a full refund from the Department.  These individuals must disclose the income generated and the exemptions with valid documents in order to submit the claim.

Exemptions for Senior Citizens

Those above the age of 75 years who receive pension and interest income from a specified bank account can avoid filing their returns. It is pertinent to note that qualifying senior citizens and super senior citizens have to complete a declaration via Form 12BBA and submit it to a designated bank. They can only opt out of filing their Income Tax Returns once this process is completed.