New Delhi, Aug. 20 -- One question that always comes up during tax season is: "Do I need to file a return if my income is below the basic exemption limit?"

At first glance the answer seems obvious. No taxable income, no return. But India's Income tax Act doesn't look at things through the "income earned" lens alone. And frankly, that makes sense.

Think about that one friend on Instagram whose weekdays are a blur of exotic vacations. When you meet them in person, they complain: "Buddy, I'm broke." Yet they're somehow sipping sangria in Spain and Seychelles every other week. Wondering how the math works? So is the taxman.

Not having taxable income doesn't automatically mean you're off the hook. The law looks at how you live, spend, and s...