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Asked by Prashant on :Jun. 12, 2018

Hy...I am working in software company. I does not…

Hy...I am working in software company. I does not have any income other than salary and house prope…

Hy...

I am working in software company. I does not have any income other than salary and house property. My total income during this year is about 60 lakhs, Can I file ITR-1? Please advise

0

Jeeba Jun. 12, 2018

Income Tax Act states that person having income from salary, house property and income from other sources excluding income from lottery and horse race, the return is filed in ITR-1. However, if the total income of assessee exceeds 50 lakhs then ITR-1 can not be filed.

Since your total income exceeds 50 lakhs, you can not file ITR-1. So, you have to file ITR-2.

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