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RuleMate India

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SHORT ANSWER: Housewives need to file tax if their total income exceeds the basic exemption limit. DETAILS: - The basic exemption limit for individuals below 60 years is ₹2.5 lakh per annum. - Income includes salary, business income, rental income, etc. PUNISHMENT / IMPLICATIONS (if applicable): - Failure to file tax returns may result in penalties and interest on unpaid taxes. SOURCE: - Income Tax Act, 1961
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