IT Filing.

If my income exceeds 2,50,000 in any one of the F.Y. I need to file the return ?

Ans:  Yes, for that particular year.

Is there is any threshold limit?

Ans. Yes, aggregate income exceeding basic exemption limit.

Some people say,If my total income doesn't exceed 5,00,000 there is no compulsion to file IT return even though TDS had been deducted?? Is that true ?? 

Ans: Not true. 

Simply say file ur itr.... Its 10 minutes exercise in case of simple return... If ur income exceeding 2.5 lakh definitely file ur itr.... However upto 3 lakh no tax is there

it's always good to file itr ... most of the people have wrong impression that once itr filed, then IT people keep on following you... IT department started to issue notices to all PAN card holders to file ROI. so better file ITR

to be a partner in nation building, file the return of income...show ur entire income..pay the tax if there is a liability....if there is a TDS file the return and claim the TDS ..&.may get refund.. if there is excess TDS ... it's always better to file return every year even if there is no income at all or loss....there are many a section in the IT Act which gives an opportunity to claim deduction, exemption, etc...