Regarding ITR Filling

no its not mandatory but if you have allotted PAN than its better to file NIL return..

There is no need to file return in such cases.

it is not mandatory  to file but advisable to file return every year.

Regards

Kabra

yes it is not mandate.

but it is better to file nill return if u have allotted  PAN NO.

If I file my return which is "Nil" for first financial year,

whether it is compulsary to file return for another financial year which is also "Nil"

No it is not necessary

1) Every person⁹⁹,—

             (a)   being a company ¹[or a firm]; or

             (b)   being a person other than a company ¹[or a firm], if his total income or the total income of any other person in respect of which he is assessable under this Act during the previous year exceeded the maximum amount which is not chargeable to income-tax,

shall, on or before the due date, furnish a return of his income or the income of such other person during the previous year, in the prescribed² form and verified in the prescribed manner and setting forth such other particulars as may be prescribed :

only if your income exceeds your exemption limit...and if your income does exceed to your basic exemption limit then there is no need to file ITR

No it is not mandate

Regards

Lalit Agarwal