The document outlines 5 real-life lessons about filing income tax returns: 1) Filing late can result in losing interest earned on refunds, 2) Filing inaccurately can result in penalties imposed by the assessing officer, 3) Limited liability partnerships over a certain turnover must undergo mandatory audits, 4) Demand notices must be treated with respect and contested within 30 days if unjustified, and 5) Dividend distribution tax must always be paid on dividends remitted to shareholders. The conclusion stresses the importance of taking income tax return filing seriously to avoid penalties and comply with tax norms.