Income Tax Returns (ITR) will need to be filed by senior citizens over the age of 75 this year as per the notification by the Ministry of Finance.
The relaxation from the budget in tax filing for those above the age of 75 will come into effect only from FY 2021-22, i.e., for ITRs to be filed next year. So this year senior citizens who are above the age of 75 years have to still do their ITR filing. Currently, the last date for filing ITR for FY 2020-21 is September 30, 2021.
If a senior citizen misses the ITR filing deadline for FY 2020-21, then he/she will be liable to pay a late filing fee of Rs 5,000 if the the income exceeds Rs 5 lakh.