Last updated: July 14th, 2023 5:29 PM

Form ITR 1 (Sahaj) for AY 2020-21

ITR-1 return filing is a form for ITR filling which should be used by individuals having a salary, pension, family pension, rental income and other sources of income. ITR 1 requires only the submission of basic details about the assessee and the taxable income. Generally, assessees filing ITR 1 do not need to undergo an audit. It is mandatory to file ITR 1 using the electronic mode. However, for assessees who are aged above eighty years, the return can be filed using a physical copy of ITR 1. On 3^rd January 2020, the Central Board of Direct Taxes (CBDT) issued Notification G.S.R.9(E). The notification has introduced additional restrictions regarding the filing of ITR 1. The notification specifies that assessees who fall under the mentioned circumstances should not opt for ITR 1. The mentioned circumstances are jointly owning house property, depositing more than one crore rupees in current accounts, spending more than two lakh rupees on foreign travel, and spending more than one lakh rupees on electricity