I am from banglaore, I have got my PAN Card just today, i income is less than 1,50,000/- per annum, so i need?

IT IS NECESSARY TO FILE RETURNS IF PAN ALLOTED ?

There is no legal obligation to file tax returns unless the income chargeable to tax, exceeds the minimum tax threshold of Rs. 1,50,000.

Obtaining a PAN card has nothing to do with the above requirement. In other words, if your Indian income does not exceed Rs. 1,50,000 , regardless of whether you have a PAN card or not, you do not have to file tax return.

If your income is less than the threshold limit, which is Rs.150000 for males, Rs.180000 for females and Rs.225000 for senior citizens in the current financial year, you don't need to file IT return.
But filing a return would be beneficial, for it would build up your capital.
To file a return, consult an IT advocate or a CA. It won't be easy for you, as too many forms have been introduced.

PAN Card is not only for filing ur income tax.

It is also compulsory to quote PAN in all documents pertaining to financial transactions notified from time-to-time by the Central Board of Direct Taxes. Some such transactions are sale and purchase of immovable property or motor vehicle or payments in cash, of amounts exceeding Rs. 25,000/-to hotels and restaurants or in connection with travel to any foreign country. It is also mandatory to mention PAN for obtaining a telephone or cellular telephone connection. Likewise, PAN has to be mentioned for making a time deposit exceeding Rs. 50,000/- with a Bank or Post Office or depositing cash of Rs. 50,000/- or more in a Bank.

Although there is no obligation, but it is required that you file your returns declaring that your taxable income is below the initial slab.