For all individuals who are earning above the prescribed threshold level (without considering the deductions), it is mandatory by law to file Income Tax Return. There is however, a relaxation for senior and very senior citizens in terms of the minimum threshold level. The minimum threshold level for FY 2013-14 for individuals is Rs.2 lacs, for senior citizens (above 60 years) - Rs. 2.5 lacs and for very senior citizens (above 80 years) is Rs. 5 lacs.