Every individual having income exceeding rupees 5 lacs is obliged to file his ITR electronically. Likewise any ITR where any refund is claimed is to be filed electronically. However ITR having taxable income less than rupees 5 lacs may also be filled manually. Individuals with Taxable income below rupees 2.5 lacs are not liable to file any ITR but if they decide to file (say for bank loan purposes) an ITR can be filed voluntarily.
Simplest way to file your Income Tax Return :-
- Copy of PAN Card
- Bank Account Details
- Investments Details(LIC Premiums, School fees etc.)
- Details of any other Income and RELAX