Who is not eligible to file ITR-1 (Sahaj Form) for FY 2021-22 | Assessee Not Eligible to File ITR-1

ITR Filing Due date is approaching for the Financial Year 2021-22. It is not necessary for everyone to file the ITR, Only those Assessee who are crossig the threshold limit are required to File ITR.  The last date to file the ITR for the F.Y 2021-22 (A.Y 2022-23) is 31st July 2022. One needs to Check which ITR Form is Applicable for Filing ITRs. Those who are Filing the ITRs need to check which ITR form is applicable for Filing the Income Tax Returns as per the provisions of the Income Tax Act. Below mentioned Individuals cannot File ITR-1, they need to check which ITR Form is Applicable on that.

ITR-1 cannot be filed by any individual who:

• is a Non-Resident Indian (NRI) and a Resident Not Ordinarily Resident (RNOR).
• has a total revenue of more than 50 lakh rupees.
• has an agricultural income of more than 5000/-.
• has money from the lottery, racehorses, and legal gambling, among other things.
• has capital gains that are taxable (short term and long term).
• has made an investment in unlisted stock.
• has a source of revenue such as a business or a vocation.
• is a company’s Director.
• has tax deduction under section 194N of Income Tax Act.
• has deferred income tax on ESOP received from a qualifying start-ups employer.
• owns and generates money from multiple residential properties.
• is not covered by the ITR-1 eligibility requirements.