ITR-1 can be filed by a Resident Individual whose:
• Total income does not exceed ₹ 50 lakh during the FY
• Income is from salary, one house property, family pension income, agricultural income (up to ₹5000/-), and other sources, which include:
• Interest from Savings Accounts
• Interest from Deposits (Bank / Post Office / Cooperative Society)
• Interest from Income Tax Refund
• Interest received on Enhanced Compensation
• Any other Interest Income
• Family Pension
• Income of Spouse (other than those covered under Portuguese Civil Code) or Minor is clubbed (only if the source of income is within the specified limits as mentioned above).
ITR-1 cannot be filed by any individual who:
• is a Resident Not Ordinarily Resident (RNOR), and Non-Resident Indian (NRI)
• has total income exceeding ₹ 50 lakh
• has agricultural income exceeding ₹ 5000/-
• has income from lottery, racehorses, legal gambling etc.
• has taxable capital gains (short term and long term)
• has invested in unlisted equity shares
• has income from business or profession
• is a Director in a company
• has tax deduction under section 194N of Income Tax Act
• has deferred income tax on ESOP received from employer being an eligible start-up
• owns and has income from more than one house property
• is not covered under the eligibility conditions for ITR-1