New Delhi, June 17 -- For many taxpayers, the decision to file an income tax return (ITR) appears straightforward. If tax has already been deducted from salary or income falls below the taxable threshold, filing a return may seem unnecessary.

However, that assumption can prove costly.

Filing an ITR is not determined solely by whether tax is payable. Investors reporting capital gains, taxpayers claiming refunds, individuals seeking to carry forward losses and those holding foreign assets may all need to file a return, even if their final tax liability is nil.

As the filing season for Assessment Year (AY) 2026-27 gets underway, here is a detailed look at who must file an ITR, who should consider filing one and the deadlines taxpayers nee...