Can I file joint tax return along with my non working wife. Is there any benefit ?

You can file as married filing jointly (MFJ) or married filing separately (MFS). In most cases, it is better to file as MFJ. On the joint return your standard deduction is $11,400 and you get two exemptions.
If you file MFS, you will not get many credits and deductions including EIC. On the joint return the liabilities are joint. If one spouse owes tax, both spouses are equally responsible.

This is from IRS publication 17: Your Federal Income Tax.
Tip. If you and your spouse each have income, you may want to figure your tax both on a joint return and on separate returns (using the filing status of married filing separately). Choose the method that gives the two of you the lower combined tax. Your U.S. Tax Return: Filing Status for Married

Actually, the 2011 JOINT standard deduction is $11,600. Other than that, MukatA's answer is accurate.

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It also depends on your Residency status. Check here: Page 26, pub 519 under non resident aliens: A nonresident alien generally cannot file as married filing jointly. However, a nonresident alien who is married to a U.S. citizen or resident can choose to be treated as a resident and file a joint return on Form 1040, Form 1040A, or Form 1040EZ.

Also see Page 10 , Pub 519 treating non resident spouse as a resident.

So if you and your wife both are non residents you cannot file Married Filing Jointly. But if you are both residents , go for it and file jointly.

If only you or your wife is a resident then you can elect to treat other person as resident.

Try reading pub 519 sometime. It is an interesting read!

There are special restrictions on Married Filing Separately. Most important one that could matter is you or your wife cannot choose standard deduction if one of you is itemizing.

See pg 22 pub 17 under Married Filing Separately. All rules and restrictions are given there.

+ATLANTA,+MUKATA.

Thanks for your response. Sorry, I was seeking answer as per Indian Tax Regulations.

Please explain what are you asking. Indian Tax Regulations does not effect US tax return.