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Any individual who earns income from salary, pension, or interest income above the exemption limit is eligible to file income tax returns in India.
Filing income tax returns helps in establishing financial credibility, applying for loans or visas, and claiming tax refunds if eligible..
Yes, if the total income of a salaried person exceeds the basic exemption limit, then filing income tax returns is mandatory..
Yes, salaried persons can file income tax returns online through the Income Tax Department's e-filing portal.
Failure to file income tax returns may result in a penalty, interest, or legal proceedings by the Income Tax Department.
A salaried person can claim deductions and exemptions under various sections of the Income Tax Act, such as Section 80C, 80D, and 80G, while filing income tax returns.
The documents required for filing income tax returns include Form 16, salary slips, investment proofs, bank statements, and PAN card details.