5 Benefits of filing ITR - If you are an Indian citizen and your gross total income exceeds the tax exemption limit, then you must file your Income Tax Returns (ITR). If your gross total income does not exceed the exemption limit, then it is not mandatory for you to file your ITR. A person whose gross income is up to Rs 250,000 per annum is not required to file ITR.
You are also required to file your ITR if your electricity consumption bill exceeds Rs 1 lakh in an year or you have undertaken foreign travel for over Rs 2 lakh.
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