You can't put reader.close() between the try and the catch. Either put it in a finally block, or use a try-with-resources. Like,

try (BufferedReader reader = new BufferedReader(new FileReader(filenameIn))) {
    reader.readLine();
    for (int i = 0; i < personArray.length; i++) {
        String[] data = reader.readLine().split("/t"); // <-- should be \\t for tab.
        personArray[i] = new Person(Integer.parseInt(data[0]), data[1], 
                data[2], Integer.parseInt(data[3]));
    }
} catch (IOException e) {
    System.out.println("ERROR: WRONG FILE " + e.toString());
} catch (Exception e) {
    System.out.println("ERROR" + e.toString());
}

or with the finally block,

BufferedReader reader = null;
try {
    reader = new BufferedReader(new FileReader(filenameIn));
    reader.readLine();
    for (int i = 0; i < personArray.length; i++) {
        String[] data = reader.readLine().split("\\t"); // <-- to split on tab.
        personArray[i] = new Person(Integer.parseInt(data[0]), 
                data[1], data[2], Integer.parseInt(data[3]));
    }
} catch (IOException e) {
    System.out.println("ERROR: WRONG FILE " + e.toString());
} catch (Exception e) {
    System.out.println("ERROR" + e.toString());
} finally {
    if (reader != null) {
        reader.close();
    }
}

As explained above this is a feature in Java 7 and beyond. try with resources allows to skip writing the finally and closes all the resources being used in try-block itself. As stated in Docs

Any object that implements java.lang.AutoCloseable, which includes all objects which implement java.io.Closeable, can be used as a resource.

See this code example

static String readFirstLineFromFile(String path) throws IOException {
    try (BufferedReader br = new BufferedReader(new FileReader(path))) {
        return br.readLine();
    }
}

In this example the resource is BufferReader object as the class implements the interface java.lang.AutoCloseable and it will be closed whether the try block executes successfully or not which means that you won't have to write br.close() explicitly.

Another important thing to notice here is that if you are writing the finally block yourself and both your try and finally block throw exception then the exception from try block is supressed.

While on the other hand if you are using try-with-resources statement and exception is thrown by both try block and try-with-resources statement then in this case the exception from try-with-resources statement is suppressed.

As the @Aaron has answered already above I just tried to explain you. Hope it helps.

Source: http://docs.oracle.com/javase/tutorial/essential/exceptions/tryResourceClose.html

It depends on whether you can deal with the exceptions that can be raised at this point or not.

If you can handle the exceptions locally you should, and it is better to handle the error as close to where it is raised as possible.

If you can't handle them locally then just having a try / finally block is perfectly reasonable - assuming there's some code you need to execute regardless of whether the method succeeded or not. For example (from Neil's comment), opening a stream and then passing that stream to an inner method to be loaded is an excellent example of when you'd need try { } finally { }, using the finally clause to ensure that the stream is closed regardless of the success or failure of the read.

However, you will still need an exception handler somewhere in your code - unless you want your application to crash completely of course. It depends on the architecture of your application exactly where that handler is.

You can't insert System.out.println("Wipro") between the try and the catch. It should presumably be in the try. Like,

public static void main(String[] args) {
    try {
        int i = Integer.parseInt(args[0]);
        System.out.println(i);
        System.out.println("Wipro");
    } catch (NumberFormatException e) {
        System.out.println(e);
    }
}