{"id":864,"date":"2024-10-17T12:45:46","date_gmt":"2024-10-17T07:15:46","guid":{"rendered":"https:\/\/www.caclubindia.com\/guide\/?p=864"},"modified":"2025-06-26T15:56:44","modified_gmt":"2025-06-26T10:26:44","slug":"section-194p","status":"publish","type":"post","link":"https:\/\/www.caclubindia.com\/guide\/section-194p\/","title":{"rendered":"Section 194P: IT Filing Exemption for Senior Citizens Over 75"},"content":{"rendered":"\n<p>Section 194P was introduced in Budget 2021 to provide conditional relief to senior citizen above the age of 75 years from filling the IT Return.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"538\" src=\"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/10\/sec194p-1024x538.jpg\" alt=\"\" class=\"wp-image-868\" srcset=\"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/10\/sec194p-1024x538.jpg 1024w, https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/10\/sec194p-300x158.jpg 300w, https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/10\/sec194p-768x403.jpg 768w, https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/10\/sec194p.jpg 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\r\n<div class=\"ez-toc-title-container\">\r\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\r\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\r\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.caclubindia.com\/guide\/section-194p\/#Conditions_for_Exemption\" >Conditions for Exemption<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.caclubindia.com\/guide\/section-194p\/#Age_Requirement\" >Age Requirement<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.caclubindia.com\/guide\/section-194p\/#Resident_Status\" >Resident Status<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.caclubindia.com\/guide\/section-194p\/#Income_Source\" >Income Source<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.caclubindia.com\/guide\/section-194p\/#Specified_Bank\" >Specified Bank<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.caclubindia.com\/guide\/section-194p\/#Declaration_to_Bank\" >Declaration to Bank<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.caclubindia.com\/guide\/section-194p\/#How_to_File_the_Declaration\" >How to File the Declaration?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.caclubindia.com\/guide\/section-194p\/#Declaration_Form_Format\" >Declaration Form Format<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.caclubindia.com\/guide\/section-194p\/#FAQs\" >FAQs<\/a><\/li><\/ul><\/nav><\/div>\r\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conditions_for_Exemption\"><\/span>Conditions for Exemption<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The key conditions for exemption:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Age_Requirement\"><\/span>Age Requirement<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>He\/she should be 75 years or older.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Resident_Status\"><\/span>Resident Status<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The Senior citizen must be a resident of India during the financial year.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Income_Source\"><\/span>Income Source<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The income should include only pension income and interest income. Interest income from accounts maintained in the same bank where the pension is credited.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Specified_Bank\"><\/span>Specified Bank<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The bank must be a specified bank notified by the central government. Such banks will be responsible for the TDS deduction of senior citizens after considering the deductions under Chapter VI-A and rebate under 87A.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Declaration_to_Bank\"><\/span>Declaration to Bank<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The senior citizen must submit a declaration in Form 12BBA to the specified bank, providing details of income and deductions under applicable sections (like Section 80C, 80D, etc.).<\/p>\n\n\n\n<p>Once the specified bank deducts tax for senior citizens above 75 years of age, there will be no requirement to furnish income tax returns by senior citizens<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_File_the_Declaration\"><\/span>How to File the Declaration?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong><a href=\"https:\/\/www.caclubindia.com\/news\/cbdt-unveils-form-12baa-and-revised-tds-tcs-guidelines-24000.asp\">Form No. 12BBA<\/a><\/strong> to be furnished in paper form and it should contain the following details:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Total income of <strong><a href=\"https:\/\/www.caclubindia.com\/guide\/income-tax-for-senior-citizens\/#google_vignette\">senior citizen<\/a><\/strong><\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Deductions available under section 80C and 80U<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Rebate available u\/s 87A<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Confirmation from the senior citizen of having only pension and interest income<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Declaration_Form_Format\"><\/span>Declaration Form Format<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"916\" height=\"632\" src=\"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/10\/12BBA.png\" alt=\"\" class=\"wp-image-865\" srcset=\"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/10\/12BBA.png 916w, https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/10\/12BBA-300x207.png 300w, https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/10\/12BBA-768x530.png 768w\" sizes=\"auto, (max-width: 916px) 100vw, 916px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FAQs\"><\/span>FAQs<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1729148606951\"><strong class=\"schema-faq-question\">Who qualifies for tax filing exemption under Section 194P?<\/strong> <p class=\"schema-faq-answer\">Senior citizens who are:<br\/>a. 75 years or above,<br\/>b. Residents of India,<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1729148637310\"><strong class=\"schema-faq-question\">What income sources are covered for exemption under Section 194P?<\/strong> <p class=\"schema-faq-answer\">Earning income solely from a pension and interest from the same bank where the pension is credited, qualify for this exemption.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1729148685949\"><strong class=\"schema-faq-question\">When did Section 194P come into effect?<\/strong> <p class=\"schema-faq-answer\">Section 194P came into effect from April 1, 2021.<\/p> <\/div> <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Section 194P was introduced in Budget 2021 to provide conditional relief to senior citizen above the age of 75 years [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":868,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"class_list":["post-864","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-income-tax"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - 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