Is it necessary to file IT return?

my brother who is invested nearly 195000/- in shares and 50000/ in mutual funds from may 2008. But he has not filed any tax return so far (he applied and got the pan only on may 08. is it necessary to file IT return?

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  1. Yes .sure its necessary.But its very useful for our brother B’coz after 1year his investment is totaly tax free( mens capital gain) so do not mistake and file income tax return….