Form ITR-1 Sahaj – AY 2020-21 | Applicability & Additional Disclosures

• June 1, 2020
• CA Chandan Agarwal's Office

CBDT has notified new ITR form for AY 2020-21 vide notification No. 31/2020 dated 29.05.2020. This article explains Form ITR-1 Sahaj Applicability and additional disclosure required compared to previous year Form ITR-1.

This Form ITR-1 Sahaj can be filed by an individual resident (other than not ordinarily resident) having total income up to Rs. 50 lakhs comprising of

a. Income from salaries

b. one house property,

c. other sources of income and

d. agricultural income having income up to Rs. 5,000/-.

If an individual who is a director in a company or has invested in unlisted equity share is not eligible to file Form ITR-1 Sahaj. This means that if he is a share holder (equity share) in a private company or public company he is not eligible to file ITR-1 Sahaj).

Read on me: https://taxguru.in/income-tax/form-itr-1-sahaj-ay-2020-21-applicability-additional-disclosures.html