Firstly we should know what are the benefit of ITR filing. However, all Defence Pensioners (based on their pension amount) and employees should file ITR as clarifications below.

ITR filing for all pensioners and salaried persons may be benificial due to the reasons as mentioned below:

(a) If TDS deducted on account of your investment or at any other point, you may get refund with very easy e-filing process. E filing of ITR is very easy process and every Pensioners and salaried persons with basic knowledge of computer and english language may do at their own. However we also provide e-filing assistance.
(b) To get a loan you need to show Income Tax of atleast last 2 years.
(c) To get a credit card, ITR filing is helpful
(d) to get visa of any country, your ITR filing plays vital role.
(e) Filing ITR helpp you to establish your genuineness with declaration of your income at authorised platform

Now, you should know who should file ITR ? You salary or payment may not be taxable but you should file ITR every year if your pension or salary exceeds 2.5 lakh per year. In this regard you may refer Section of Income Tax Act

As per the old tax regime higher tax exemption for senior citizens and super senior citizens of Rs. 3 lakh and Rs. 5 lakh respectively applicable as per income tax slab rates in AY 2023-24. Whereas such limit is not available under the new tax regime, which offer the same Rs. 2.5 lakh exemption limit irrespective of the taxpayer’s age.

So, if your income is even less than 5 Lakh, you should file ITR as per Income Tax Act. moreover, if your overall income is less than Rs 2.5L per annum , you simply file a nil ITR and pay no tax and if you during the previous year—(i) has deposited an amount or aggregate of the amounts exceeding one crore rupees in one or more current accounts maintained with a banking company or a co-operative bank; or (ii) has incurred expenditure of an amount or aggregate of the amounts exceeding two lakh rupees for himself or any other person for travel to a foreign country; or (iii) has incurred expenditure of an amount or aggregate of the amounts exceeding one lakh rupees towards consumption of electricity; or than will required to file ITR.

You may know more about the e-filing process from our organisation – click here

Income tax Slab for the Fy 2022-23

Net Taxable Income	New Tax Regime Income Tax Slab Rates FY 2022-23	Old Tax Regime Income Tax Slab Rates FY 2022-23
Up to Rs 2.5 lakh	Exempt	Exempt
Rs 2,50,001 to Rs 5 lakh	5%	5%
Rs 5,00,001 to Rs 7.5 lakh	10%	20%
Rs 7,50,001 to Rs 10 lakh	15%	20%
Rs 10,00,001 to Rs 12.5 lakh	20%	30%
Rs 12,50,001 to Rs 15 lakh	25%
Over Rs. 15 lakh	30%

Income Tax Slab for Senior Citizens

Net Taxable Income	Income Tax Slab Rates FY 2022-23 (Old Tax Regime)	Income Tax Slab Rates FY 2022-23 (New Tax Regime)
Up to Rs 2.5 lakh	Nil	Nil
Rs 2,50,001 to Rs 3 lakh	Nil	5%
Rs 3,00,001 to Rs 5 lakh	5%	5%
Rs 5,00,001 to Rs 7.5 lakh	20%	10%
Rs 7,50,001 to Rs 10 lakh	20%	15%
Rs 10,00,001 to Rs 12.5 lakh	30%	20%
Rs 12,50,001 to Rs 15 lakh		25%
Over Rs. 15 lakh		30%

You will get answer of your question here – myincomeis below2.5lakhsshouldifile itr ? if myincomeis below taxable limit do i need tofile itr ? myincomeis 3 lakhsshouldifile itr ? myincomeis below 5 lakhsshouldifile itr ? incomelessthan 2.5lakhs it returns penalty ? incomelessthan 2.5lakhs it returns penalty? who is not required tofile income taxreturn in india? is it mandatory tofile income taxreturn below 5 lakhs? taxableincomeismore thanbasic exemption limit option ?

Disability Pension Exempted from Income Tax

SPARSH issued Form -16 for Defence Pensioners : Download Now in this way