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Know which salaried individuals aren't eligible to file ITR-1 Income tax return
June, 21st 2019

All the resident salaried individuals are not eligible to file ITR-1 form. There are certain scenarios where this form will not be applicable to salaried individuals for FY19.

The last date to file an income tax return for the financial year 2018-19 is July 31, 2019. If you are filing your income tax return then make sure to choose the right form. The basic ITR form for working-age individuals is ITR-1. All those salaried individuals with total income up to Rs 50,00,000 from salary, house property and other sources such as interest income, etc., are eligible to file new ITR-1 form.

It may be noted that all the resident salaried individuals are not eligible to file ITR-1 form. There are certain scenarios where this form will not be applicable to salaried individuals for FY19 or assessment year (AY) 2020. Given below are such situations-

1. If the total income of the individual is more than Rs 50,00,000
2. If the income arises from more than one house property
3. If the agricultural income crosses the threshold of Rs 5,000 per year
4. If the individual is a director of a company
5. This year, any individual who has invested in unlisted shares
6. If the individual has received income from capital gains
7. If the income is earned under the head business and profession
8. If any resident and ordinarily resident of India having income from any source outside India
9. If an individual has claimed relief of foreign tax paid or double taxation relief under Section 90 and/or Section 91
10. Residents not ordinarily resident and non-residents cannot file returns using ITR-1 form.

It may be noted that a resident salaried individual with income only from salary less than Rs 50 lakh a year will be eligible to file a tax return using ITR-1 form. If he or she, additionally received income from any capital gains or agricultural sources, then he/she will not qualify to file ITR-1 for FY 19. These salaried individuals will need to file the return using another ITR form.

Worth mentioning here is that if you have made capital gains during the year, you should file the return using ITR-2 form. Apart from this, if you have earned income from more than one house property, you will have to use ITR-2 form.

Before filing ITR you must keep handy certain important documents such as Form 16, interest certificates from banks and post office, form 16A/Form 16B, Form 26AS, salary slips, Aadhaar card, etc., among others.

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