3.

ITR- INCOME TAX RETURN

ITR – 1 INDIVIDUAL
• WHO CAN FILE ITR 1 ?
• ITR-1 FORM is to be used by individual having income from
following sources :
• - income from salary / pension
• - income from one house property
• - income from other sources (not income from lottery or race
horses)
• - moreover, in any case any income of spouse, minor child, etc.
gets clubbed with the income of the assesse, then ITR-1 can be
used only if the clubbed income falls into the above income source
Who can not use the ITR-1 FORM ?
• ITR-1 form should not be used by an individual if his total income
consists of :
• Income from winnings from the lottery or income from race horses
• Income under capital gains
• Income exceeding rs.5000 from agriculture
• Income from business and profession
• From equity mutual funds and stock
• Losses which has carried forward
• Person claiming relief of foreign tax paid under section 90, 90A or 91
4. TALLY