ITR-1 Form or SAHAJ

This form is for resident Indians who fall under the below-mentioned categories:

- If income is created from a pension or salary

- If income is created from single house property, however, in case the losses have been carried forward from the previous year, the exclusion is allowed.

- In case the income is generated from agriculture (not more than Rs.5,000)

- The total income produced can be a maximum of Rs.50 lakh and not more

- Income that has been created from other sources such as lottery or winning horse races


Who Cannot Opt for this Form?

Individuals who fall under the following groups cannot opt for ITR-1:

- If the total income created is more than Rs.50,000

- In case individuals have taxable capital gains

- In case income is created from more than one house property

- During the financial year, if any investments were made in unlisted equity bonds

- If you are an NRI (Non-Resident Indian) or RNOR (Resident Not Ordinary Resident)

- In case there is an income produced from agriculture more than Rs.5,000

- In case income is produced from profession or business

- In case the taxpayer is the director of a company

- In case any income is created from a property located abroad

- In case an individual possesses foreign income or foreign assets.