If you have an net taxable income below Rs 5 lakh, then you are eligible for income tax rebate u/s 87A which will essentially make your tax liability nil. Nonetheless you should file ITR because every person whose income is above the basic exemption limit is mandated to do so.
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Is it mandatory to file for Income Tax Return? Let's find out with a quick infographic! Are you going to file for ITR? Do tell us in the comments! : r/IndianStockMarket
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