New Delhi, April 28 -- From April 1, 2026, filing taxes just got easier for elderly taxpayers! With the introduction and expansion of Form 125, senior citizens, eligible individuals can now entirely avoid filing ITR. The form is designed to reduce compliance hassles by shifting much of the tax process to banks, making tax compliance largely bank-driven and far more convenient for retirees.

Senior citizens enjoy several special income tax benefits, from higher exemption limits and additional deductions to simplified compliance through Form No. 125. Here's a look at the key tax rules, recent changes, and important details retirees should know to manage their finances more efficiently and reduce their overall tax burden.

Form 125 (formerly...