Changes in ITR – 1 – Sahaj – for FY 2019-20 (AY 2020-21)

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Who can file this form?

ITR-1 can be filed by an individual being a resident (other than not ordinarily resident) having total income up to Rs. 50 lakhs, having Income from Salaries, one house property, other sources (Interest etc.), and agricultural income up to Rs. 5000.

ITR-1 cannot be filed by an individual who is either a director of a company or has invested in unlisted equity shares.

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Changes in ITR 1 for AY 2020-21

1. In the new ITR Form, assesee should specify whether he is filing return of income under Seventh proviso to section 139(1) but otherwise not required to furnish return of income?

If yes, following information need to be furnished:

  • Have you deposited amount or aggregate of amounts exceeding Rs. 1 Crore in one or more current account during the previous year? (Yes/No) (If Yes specify Amount)
  • Have you incurred expenditure of an amount or aggregate of amount exceeding Rs. 2 lakhs for travel to a foreign country for yourself or for any other person? (Yes/ No) (If Yes specify Amount)
  • Have you incurred expenditure of amount or aggregate of amount exceeding Rs. 1 lakh on consumption of electricity during the previous year? (Yes/No) (If Yes specify Amount).
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2. In new form, Changes made in Nature of Employment section and following options are provided to choose from:

  • Central Govt.
  • State Govt.
  • Public Sector Undertaking
  • Pensioners
  • Others
  • Not Applicable (e.g. Family Pension etc.)

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3. Individuals who are having carry forward and set off of losses, are required to file ITR-2 and is not eligible to file their return using ITR-1.

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4. Under deduction section, assesee should clearly mention that, Whether, he had made any investment/ deposit/ payments between 01.04.2020 to 30.06.2020 for the purpose of claiming any deduction under Part B of Chapter VIA? If Yes, specify details in Schedule DI. This section is added to facilitate the individuals who made the investments during the period April 01, 2020 to June 30, 2020 and could not do it before March 31, 2020, due to COVID – 19 lockdowns.

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