Specified senior citizen declaration for tax deduction sets out identity, pension, bank details, and new tax regime option Prescribed Form No. 125 requires a specified senior citizen to furnish particulars for deduction of tax under Section 393(1), including identity details, bank and pension information, account particulars, and whether the new tax regime has been opted out of. The declarant must certify that the information is complete and correct and that no income other than pension and/or interest is received or receivable only in the specified bank account(s). The notes specify how the name, address, and tax year are to be stated and provide that deduction and rebate follow the new tax regime unless the individual opts out.