For a beginner, income tax return filing may seem like a big deal. If this is your first time at it, here's are some pointers to help you sail.1. Should I file a Return? The IT department requires that one must file an income tax return if their total income is more than Rs 2,50,000. This total income is essentially the sum of income earned from all sources - salary, interest income from the bank, any rental income etc. Also the Rs 2,50,000 is your gross income before reducing any Deductions. Non-filing of returns may attract some penalties from the IT department.2. All my tax is already deducted? While, TDS may already have been deducted from your salary and other incomes, disclosing all your incomes and filing your return timely is your responsibility. So we go back to the thumb rule of...
