Income Tax Return (ITR) Filing ALERT! Planning to file ITR-1 Sahaj for AY 2021-22? How to do it? Check who are ELIGIBLE, what sources of income are taxed

Income tax returns (ITR) filing: Are you planning to file ITR-1 Sahaj for the Assessment Year 2021-22? Then this information is surely for you! The Income-Tax department has opened an e-filing window for income tax return (ITR) for the assessment year 2021-22 on its website for salaried employees. For this Assessment Year, a one-page simplified ITR Form-1 (Sahaj) has been notified, and it can be filed by an individual who is resident other than not ordinarily resident, with an income up to Rs 50 lakh, and who is receiving income from salary, one house property, or other income or interest, etc. So, check this list to know who all are eligible to file ITR-1 for AY 2021-22;  

Who is eligible to file ITR-1 for AY 2021-22? 

ITR-1 can be filed by a Resident Individual whose: 

Total income does not exceed Rs 50 lakh during the financial year 

Income from salary, one house property, family pension income, agricultural income (up to Rs 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 Portuguese Civil Code) or Minor is clubbed (only if the source of income is within the specified limits as mentioned above).

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So, then who all are not eligible to file ITR-1 for AY 2021-22; Check all the details here 

The ITR-1 cannot be filed by any individual who is a Resident Not Ordinarily Resident (RNOR), and Non-Resident Indian (NRI). Also, who has a total income exceeding Rs 50 lakh. A person who has agricultural income exceeding Rs 5,000 and has income from lottery, racehorses, legal gambling etc. He or she, who has taxable capital gains (short term and long term).  

Also, the one who has invested in unlisted equity shares and has income from business or profession. Similarly, he or she who is a Director in a company, and has tax deduction under section 194N of Income Tax Act. The one who has deferred income tax on ESOP received from employer being an eligible startups, and owns and has income from more than one house property. Also, the person is not covered under the eligibility conditions for ITR-1.