Income Tax Registration & Filing :: ITR1

Description

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 the Portuguese Civil Code) or Minor is clubbed (only if the source of income is within the specified limits as mentioned above).