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ITR-1 FILLING
About ITR-1 SAHAJ
ITR -1
or Sahaj Form is a simplified one-page form for individuals having
income up to Rs 50 lakh from the following sources:
Income
from Salary/Pension.
Income
from One House Property (excluding cases where loss is brought forward from
previous years)
Income
from Other Sources (excluding winning from Lottery and Income from Race Horses)
Who cannot file ITR 1 for AY 2019-20
An individual
having income above Rs 50 lakhs cannot use this form.
An individual
who is either a director in a company and has held any unlisted equity shares
at any time during the financial year cannot use this form.
Residents not
ordinarily resident (RNOR) and non-residents cannot file returns using ITR -1
Also,
individuals who have earned income through the following means are not eligible
to file form ITR 1:
a. More
than one House Property
b. Lottery,
Racehorses, Legal Gambling etc.
c. Taxable
capital gains (Short term and Long term)
d. Agricultural
income exceeding Rs. 5,000
f. Business
and Profession
g. Individual
who is a Resident and has assets (including financial interest in any entity)
outside India or signing authority in any account located outside India.
h. Individual
claiming relief of foreign tax paid or double taxation relief under section
90/90A/91.