FAQ on ITR-1
1. Who is eligible to file ITR-1 for AY 2022-23?
ITR-1 can be filed by a Resident Individual whose:
• Total income does not exceed ₹ 50 lakh during the FY
• Income is from salary, one house property, family pension income, agricultural income (up to ₹5000/-), and other sources, which include:
o Interest from Savings Accounts
o Interest from Deposits (Bank / Post Office / Cooperative Society)
o Interest from Income Tax Refund
o Interest received on Enhanced Compensation
o Any other Interest Income
o Family Pension
• Income of Spouse (other than those covered under Portuguese Civil Code) or Minor is clubbed (only if the source of income is within the specified limits as mentioned above).
2. Who is not eligible to file ITR-1 for AY 2022-23?
ITR-1 cannot be filed by any individual who:
• is a Resident Not Ordinarily Resident (RNOR), and Non-Resident Indian (NRI)
• has total income exceeding ₹ 50 lakh
• has agricultural income exceeding ₹ 5000/-
• 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 Income Tax Act
• 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