ITR-1 e-form for FY 2019-20 now available on income tax department website

How to file tax returns using ITR-1?
There are two ways a taxpayer can file ITR-1 – Either by uploading an XML file or by directly preparing and submitting it online.
To file ITR-1 by uploading an XML file, an individual is required to download the Excel or Java utility from the e-filing website, fill in the information, generate an XML file and finally upload the same on the income tax department’s e-filing website.
Another method is by logging in to your account on the department’s e-filing website, and then entering the information directly in the online form and submitting it.

This method does not require downloading of Excel and/or Java utility.
The last date of filing ITR-1 for FY 2019-20 has been extended to November 30, 2020.

Who can use ITR-1?
ITR-1 is the tax return form used most commonly by individual taxpayers.

For FY 2019-20, individuals who satisfy these conditions can use ITR-1 to file their returns:
a) Individual should be a resident. NRIs cannot use the ITR-1 to file their income tax return;
b) Total income of resident individual should not exceed Rs 50 lakh;
c) The sources of total income should be salary income, one house property, other sources of income such as interest income, pension etc.; and
d) Agriculture income up to Rs 5,000 in a financial year
However, if you are a Director of a company or have invested in unlisted equity shares or have more than one house property, then you cannot file your tax-return using ITR-1.

Leave a Comment