Who Is Eligible To File ITR-1 For AY 2023-24?

ITR-1 can be filed by a resident individual whose:


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


• Income is from salary, one house property, family pension income, agricultural income (up to Rs 5,000/-), and other sources, which include:


1) Interest from savings accounts

2) Interest from deposits (bank/post office/co-operative society)

3) Interest from income tax refund

4) Interest received on enhanced compensation

5) Any other interest income

6) Family pension


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• The income of a spouse (other than those covered under the Portuguese Civil Code) or minor is clubbed (only if the source of income is within the specified limits as mentioned above).



Who Is Not Eligible To File ITR-1 For AY 2023-24

ITR-1 cannot be filed by any individual who:


• Is a Resident Not Ordinarily Resident (RNOR), and NonResident Indian (NRI) under the provisions of the Income-tax Act, 1961


• Has total income exceeding Rs 50 lakh


• Has agricultural income exceeding Rs 5,000/-


• Has income from lottery, racehorses, legal gambling, etc.


• Has taxable capital gains (short-term and long-term)


• Has invested in unlisted equity shares


• Has income from business or profession


• Is a director in a company


• Has tax deduction under Section 194N of the Income-tax Act, 1961


• Has deferred income tax on ESOP received from employer being an eligible start-up


• Owns and has income from more than one house property


• Is not covered under the eligibility conditions for ITR-1


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Types Of Income That Shall Not Form Part Of ITR-1 Form


• Profits and gains from business and professions;

• Capital gains;

• Income from more than one house property;


Read More: Most popular tax-saving investments before 31st March 2023


• Income under the head of sources which is of the following nature:


1. Winnings from lottery;

2. The activity of owning and maintaining race horses;

3. Income taxable at special rates under Section 115BBDA or Section 115BBE;

4. Income is to be apportioned in accordance with provisions of Section 5A.