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Do you think Income Tax Return (ITR) is only for those who are employed or businesspeople? If yes, then you are thinking wrong. It is generally believed that if you are still studying or if someone is not earning, then he does not need to worry about tax or ITR. The truth is that whether you are a student, currently unemployed, or doing a part-time job, filing ITR (Income Tax Return Filing 2025) can be beneficial for you in many ways. Know how...

When is it not necessary to file ITR?

First of all, understand the rules. If your annual income is less than the basic exemption limit for tax, then you don't need to file an ITR. In the old tax system, this limit was Rs 2.5 lakh, and in the new tax system, it is Rs 3 lakh.

That is why most students and unemployed youth are not under pressure to file ITR. But this does not mean that you should ignore it.

Benefits of filing ITR

Even if your income is less than the tax limit, filing ITR can be beneficial and a wise step in many ways.

Proof of income: This is the official evidence of your income, which is required for a visa, scholarship, education loan, or some jobs.

Tax refund: If TDS has been deducted from your bank deposit or freelance work, then the only way to get it refunded is through ITR.

Convenience in big transactions: In the future, if you have to deposit a large amount in your bank account, like Rs 50 lakh or more, then ITR will prove to be a reliable document for you for subsequent inquiries.

Benefit related to investment: If you incur a loss in shares or mutual funds, then by filing ITR, you can adjust this loss against the profit for the next eight years.

Long-term benefit for students
Students often wonder what the use of ITR is for during studies. But if you develop this habit from now on, it will prove to be very beneficial for you in the future. Suppose you want to study abroad, apply for a scholarship, or take an education loan from the bank, income proof will be asked from you everywhere, then the ITR will be very useful. Even sometimes it is considered a reliable document for taking a hostel, PG, or rented house.

These documents are necessary for filing income tax

In today's time, filing ITR has become very easy. This work can be done easily with the help of some basic documents like a PAN card, an Aadhar card, and a bank statement. So remember, filing ITR is not mandatory for everyone, but if you are a student or are currently unemployed and file it, then you will get the full benefit of it in the future. In simple words, filing ITR is a habit that may not be necessary for today, but can prove to be very useful for tomorrow.

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