Even if someone earns under ₹2.5 lakh (old regime) or ₹3 lakh (new regime), it's important to fill income tax return. Filing is mandatory if one has engaged in eight specified financial transactions including over ₹2-lakh foreign travel expenses, having over ₹25,000 TDS/TCS or over ₹50-lakh deposits. ITR filing ensures compliance for future loans, credit card approvals or government benefits.