Who can use ITR 1 and who can not – Income tax return form Sahaj

ITR 1 is to be filled by those individual whose total income for the assessment year 2013-2014 includes –

Income from

1. salary/pension
2. one house property (excluding cases where loss is brought forward from previous years); or
3. other sources (excluding winning from lottery and income from race horses)

In case where the income of another person like spouse, minor child, etc is to be clubbed with of the assessee, this return form can be used only if the income being clubbed falls into the above income categories

This ITR 1 form should not be used by an individual whose total income for the assessment year 2013-2014 includes-

Income From

1. more than one house property; or
2. winning from lottery or income from race horses; or
3. the head “capital gain” e.g. short term capital gain or long term capital gains from sale of house, plot, shares etc. or
4. agricultural/exempt income in excess of Rs. 5, 000; or
5. business or profession; or
6. loss under the head income from other sources; or
7. person claiming relief of foreign tax paid under section 90, 90A or 91; or
8. any resident having any asset (including financial interest in any entity) located outside India or signing authority in any account located outside India.