Today we will discuss about some facts & features of filing ITR-1.
ITR-1 is to be filed by an individual/ Huf if the total income exceeds Rs.2.5 lacs but it is less than Rs. 50 lacs.
The source of income should be from Salaries, one house property and other source only.
It can't be filed by person having capital gains and income from business/profession.
It is a simple form and is also known as sahaj.
Electronic filing of ITR-1 is mandatory except for super senior citizens i.e. above 80 years age.
No paper return is allowed.
If any Individual/HUF have Agriculture Income more tha Rs.5000/-, ITR-1 can't be used. Instead ITR-2 should be filed.
Also If an Individual is a director in a company or is holding shares in unlisted company, then also ITR-1 can not be used.
Any NRI (Non resident Indian) can also not file this ITR-1.
For more information you can see this video made by us on ITR - 1