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When Can Salaried Taxpayers Not Use Form ITR-1 to File Income-tax Returns?

ITR-1 is a one-page form applicable for salaried individuals with total annual income of up to Rs 50 lakh.

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Updated:November 4, 2019, 1:44 PM IST
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When Can Salaried Taxpayers Not Use Form ITR-1 to File Income-tax Returns?
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ITR-1 is the one of most widely used forms by taxpayers in India to file their income-tax returns (ITR). It is a one-page form applicable for salaried individuals with total annual income of up to Rs 50 lakh. However, there are certain situations when ITR-1 is not applicable even if you fall under the Rs 50 lakh income bracket.

Therefore, taxpayers need to cross-check their eligibility for filing income-tax returns using ITR-1.

Here are the scenarios under which resident salaried individuals are not eligible to file ITR 1:

1) If the total income of the taxpayer is more than Rs 50 lakh per annum

2) If the taxpayer is a non-resident or not ordinarily resident in India

3) If the taxpayer has earned income under the head business and profession

4) If the taxpayer owns more than one house property

5) If the taxpayer has an agricultural income that exceeds Rs 5,000 per annum

6) If the taxpayer is a director of a company

7) If the taxpayer has held any unlisted equity shares at any time during the financial year

8) If the taxpayer wants to claim a deduction against “income from other sources” (other than family pension), like winning a lottery or owning and maintaining race horses

9) If the taxpayer has assets outside India or is a signing authority in any account located outside India.

10) If the taxpayer has received dividend income taxable at special rates under Section 115DDBA or Section 115BBE

11) If the taxpayer has received income from capital gains (short-term and long-term)

12) If you have claimed relief of foreign of foreign tax paid or double taxation relief under Section 90 and/or Section 91.

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