Who Can File ITR-1?
ITR-1 is suitable for resident individuals (excluding Not Ordinarily Resident or Non-Resident) with total income up to ₹50 lakh from the following sources:
Salary or Pension Income:
Applicable to salaried employees or pensioners receiving a pension from a former employer.
Income from One House Property:
Individuals who own a single house property (excluding cases with brought forward losses).
Other Sources of Income:
Includes income like interest from savings accounts, fixed deposits, recurring deposits, and family pension Excludes income from lottery, horse racing, or other legal gambling.
Agricultural Income (Up to ₹5,000):
Small-scale agricultural income under the ₹5,000 threshold is allowed under ITR-1.
Annual Income Limit:
The total income (from all the above sources combined) must not exceed ₹50 lakh in the financial year.
