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WHO IS ABLE TO FILE ITR 1,2,3,4,5 FOR AY 2019-20 ITR-1

WHO IS ABLE TO FILE ITR 1,2,3,4,5 FOR AY 2019-20 ITR-1

Submitted by • August 3, 2019 www.aiatindia.com

Who is Eligible to File ITR 1 for AY 2019-20?

ITR -1 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)
In the case of clubbed Income Tax Returns, where a spouse or a minor is included, this can be done only if their income is limited to the above specifications.
Who cannot file ITR 1 for AY 2019-20

An individual having income above Rs 50 lakh 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

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