Income Tax Return for AY 2020-21: Know The Condition

Delhi: In the wake of Covid-19 pandemic, the Central Board of Direct Taxes (CBDT) had extended the last date for filing ITR for AY 2019-20 (FY 2018-19) to 30th November from its previous deadline of July 31. However, the tax department has specified a criteria where an individual cannot use ITR1 to file his or her income tax. Also, the new ITR forms have a separate table to update tax saving investment made in Q1 2020 for availing them in FY 2019


ITR 1 form, also popular as Sahaj is meant for salaried individuals with earning up to ₹50 lakh annually. In order to file income for this purpose includes income from salary or pension, income from one house property and income other sources such as interest from bank account.It is important to note any individual who fulfills any of the mentioned conditions below cannot file income tax returns using ITR1 (Sahaj).

• Who is a Non-resident or Not Ordinarily Resident
• Who is a director of a company
• Whose total income exceeds ₹50 lakh during the financial year
• Who has income from more than 1 house property
• Who has held unlisted equity shares at any time during the previous year
• Who claims deduction under section 80QQB or Section section 80RRB in respect of royalty from patents or books
• Who claims deduction under section 10AA or Part-C of Chapter VI-A
• Who has brought forward loss or losses to be carried forward under any head
• Person claiming deduction under section 57 from income taxable under the head 'Other Sources'(other than deduction allowed from family pension)
• Who wants to claim relief under section 90 or section 91
• Who wants to claim credit of tax deducted at source in the hands of any other person.
• Who has any assets (including Financial Interest in an entity) located outside India.Who has any of the following income:Income from Business or Profession
• Who has signing authority in any account outside India
• Who has any income to be apportioned in accordance with provisions of section 5A

Also those who have any of the following income:a) Income from business or profession b) Capital gains c) Income taxable under the head 'Other sources' which is taxable at special rate d) Dividend income exceeding ₹10 lakh taxable under section 115BBDA e) Unexplained income (i.e., cash credit, unexplained investment, etc.) taxable at 60% under section 115BBE f) Agricultural Income exceeding ₹5,000 g) Income from any source outside India