Who Can’t File Tax Returns Using ITR This Year
It’s important to understand that not everyone who receives a salary can use the Income Tax Return ( ITR-1 ) form to file their tax returns. Whether you’re eligible or not depends on certain criteria.
Many people who earn a salary use a form called ITR-1, also known as the Sahaj form, to file their tax returns. This form doesn’t require as much financial information as other ITR forms.
But it’s important to note that not every salaried person can use the ITR-1 form to file their tax returns. This is because eligibility for using the ITR-1 form is determined by specific criteria. If someone has engaged in certain transactions during the financial year 2022-23 (assessment year 2023-24), they may not be eligible to use the ITR-1 form.
Who is eligible to file ITR-1 this year?
ITR-1 can be filed by a resident individual whose:
Total income is not more than Rs 50 lakh during the financial year.