Many people believe that ITRs are issued only to salaried employees or business owners. However, students and unemployed people can also benefit by filing ITR, even if their income is low.Under the current rules, filing of ITR is usually only permissible if the individual’s annual income exceeds the separate threshold. For many students and unemployed people, this means they don’t have to pay back the money. Even so, experts say that freelancing can be beneficial in the future.One major advantage is that the ITR works as a financial record. This can help when applying for student loans, scholarships, visas, or other financial services that require proof of income. Several countries also ask applicants to provide financial documents during the visa process.Filing of ITR is also necessary for those who have deducted tax at Source (TDS) on fixed interest, self-employment, or similar income. The return policy allows them to claim a refund if the additional tax is deducted.Keeping a record of ITR files can help in big savings in future. A tax history can help explain the source of income and help establish financial integrity.For investors, debt repayment can be beneficial even in the event of a loss. Capital losses from dividends or share capital can be reported and carried forward under tax laws, allowing them to be offset against future profits if allowed.Recent tax reforms announced after Budget 2026 have focused on simplifying compliance and return forms. However, the benefits of voluntary filing of ITR for students and unemployed persons remain unchanged.With online filing becoming easy and requiring only basic documents like PAN, Aadhaar and bank details, starting this habit early can help people build a strong financial record for the future.