If their income is below the taxable threshold, most millennials believe they do not have to file an ITR (Income Tax Return). Sadly, that isn’t true. Making money and starting to work requires filing an income tax return. Besides being a good corporate citizen, income tax returns show an individual’s earnings and cumulative tax debt. Due to this, even if one’s taxable income is below the basic exemption threshold, filing a tax return is a good idea. All investment deductions (e.g., Section 80C for employee contributions to a Provident Fund) and the exemption for long-term capital gains must be claimed […]