Cap of Rs. 50 lacs for filing return in ITR 1 - Is it gross or taxable income

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46 Points Posted on 29 July 2021

The cap for filing return using ITR 1 is Rs. 50 lacs.  It is mentioned as Total Income. 

Whether it refers to Gross income or taxable income - after allowing exemptions under Section 10.  For example, one's gross receipts are Rs. 54 lacs and after removing - say Rs. 20 lacs received as Gratuity as per Act, the taxable income would be Rs. 34 lacs only. In such case, whether he has to use ITR 1 or ITR 2.  Pl clarify 

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On 29 July 2021 at 12:55 Report
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Quick Summary
This discussion clarifies the Rs 50 lakh income cap for filing under ITR 1. The key question is whether this limit refers to gross income or taxable income after exemptions. The consensus leans towards 'Total Income' meaning taxable income, making ITR 1 potentially applicable even if gross receipts exceed Rs 50 lakh, provided taxable income remains below the threshold and other conditions are met.

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CMA
13117 Points Posted on 29 July 2021
As I understand, total income is the taxable income after chapter VIA deductions. So ITR1 would be appropriate here I think.
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On 29 July 2021 at 14:07
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2478 Points Posted on 29 July 2021
As I think act says that income above 50,00,000 /- can not file itr 1 with some other conditions along with it.
it does not specify , it should be after deductions.
it only says income above 50,00,000/-
so I think if income above 50,00,000/- along with other conditions, then itr1 cannot be filed
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On 29 July 2021 at 14:36
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engineer
1085 Points Posted on 11 August 2021

For Individuals being a Resident (other than Not Ordinarily Resident) having Total Income up to Rs.50 lakhs, C2 Total Income (B4-C1)  D1 Tax Payable on Total Income(C2) 

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On 11 August 2021 at 10:26

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