Our Recommendations :-
Follow CA Final FB Page

Who cannot use ITR - 1 (SAHAJ)?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 kiran asked almost 3 years ago

Hi I am the CA student. May I know, Who cannot use ITR - 1 (SAHAJ)?

    0       0 Answer Now Comment Report
6 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Surbhi answered over 2 years ago

This Return Form is to be used by an individual whose total income for the assessment year 2015-16 includes:- Income from Salary/ Pension; or Income from One House Property (excluding cases where loss is brought forward from previous years); or Income from Other Sources (excluding Winning from Lottery and Income from Race Horses) Who cannot use this Return Form This Return Form cannot be used by any resident having any asset (including financial interest in any entity) located outside India or signing authority in any account located outside India. If you have foreign assets, you cannot use ITR-1. If you have exempt income which is more than Rs. 5,000, you cannot use ITR-1.

    0       0 Comment Report
Important Note – Preparing for CA Final?
CAKART provides Indias top faculty each subject video classes and lectures – online & in Pen Drive/ DVD – at very cost effective rates. Get video classes from CAKART.in. Quality is much better than local tuition, so results are much better.
Watch Sample Video Now by clicking on the link(s) below – 
For any questions Request A Call Back  
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 acharya answered over 2 years ago

(a) Income from more than one house property; (b) Income from Winnings from lottery or income from Race horses; or (c) Income under the head “Capital Gain e.g., short-term capital gains or long-term capital gains from sale of house, plot, shares etc.; or (d) Agricultural income in excess of 5,000; or (e) Income from Business or Profession; or (f) Loss under the head ‘Income from other sources’ ;or (g) Person claiming relief Under section 90 and/or91; or (h) Any resident having any asset (including financial interest in any entity) located outside India or signing authority in any account located outside India

    0       0 Comment Report
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 narahari answered over 2 years ago

(a) Income from more than one house property; (b) Income from Winnings from lottery or income from Race horses; or (c) Income under the head “Capital Gain e.g., short-term capital gains or long-term capital gains from sale of house, plot, shares etc.; or (d) Agricultural income in excess of 5,000; or (e) Income from Business or Profession; or (f) Loss under the head ‘Income from other sources’ ;or (g) Person claiming relief Under section 90 and/or91

    0       0 Comment Report
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 HIMANSHU answered almost 3 years ago

(a) Income from more than one house property; (b) Income from Winnings from lottery or income from Race horses; or (c) Income under the head “Capital Gain e.g., short-term capital gains or long-term capital gains from sale of house, plot, shares etc.; or (d) Agricultural income in excess of 5,000; or (e) Income from Business or Profession; or (f) Loss under the head ‘Income from other sources’

    0       0 Comment Report
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 B.Shyam answered almost 3 years ago

1) Persons who have income other than salary income cannot use ITR 1 But if the person is a salaried employee and have loan against self occupied house property and claiming the interest on the loan taken u/s 24 (b) can also file ITR 1 2) Persons Having income only from income from other sources can also use ITR 1 other than that no one can use the ITR 1 every one has to other ITR Forms for there respective inocme sources

    0       0 Comment Report
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 jitendra etikala answered almost 3 years ago

This Return Form should not be used by an individual whose total income for the assessment year 2015-16 includes:- (a) Income from more than one house property; (b) Income from Winnings from lottery or income from Race horses; or (c) Income under the head “Capital Gain e.g., short-term capital gains or long-term capital gains from sale of house, plot, shares etc.; or (d) Agricultural income in excess of 5,000; or (e) Income from Business or Profession; or (f) Loss under the head ‘Income from other sources’ ;or (g) Person claiming relief Under section 90 and/or91; or (h) Any resident having any asset (including financial interest in any entity) located outside India or signing authority in any account located outside India or (i) Any resident having income from any source outside India.

    0       0 Comment Report
Get Notifications
Videos
Books
Notes
Loading
SIGN UP
Watch best faculty demo video classes

These top faculty video lectures will
help u prepare like nothing else can.