New Delhi, June 9 -- Many taxpayers assume they do not need to file an Income Tax Return if their income is below the exemption limit. While filing may not be mandatory, doing so can offer several financial and practical benefits.

The income tax exemption threshold depends which tax regime a taxpayer picks:

It is not mandatory for individuals whose taxable income is below the exemption limit to file ITR, as per the income tax rules. There is no legal obligation. However, taxpayers often submit income tax returns despite having income below the exemption limit.

Here are the deadlines by which taxpayers must file their income tax returns based on their income type:

The Income Tax department has notified all income tax return forms for t...