ITR 1 For AY 2023-24 and Seventh Proviso to Section 139(1)

Please look at the above image.

1. If person is salaried employee and has income more than 12 Lakhs from Salary then First question would answer to no. ( As person required to file return in that case)

2. What is this other section is about ? ( Are you required to file a return as per other condition prescribed under caluse of seveth prvoiso to section 139(1) ?

- What is aggregate tax deducted at source and tax collected at source?
- if person working in company and company paid him/her 12 lakh and deducted TDS of 80000 then?

- The deposit in one more saving account of person in aggregate is fifth lakh or more?
- Does it count FD redepmption and created new FD?
- Does it count Salary deposit?
(Some time person has different salary account and he/she transfer money to another account so does it count two times (one for salary account and another for transfer to account.)

Please advice.

Great questions, spatel! Let's clarify the points around ITR-1 for AY 2023-24 and the Seventh Proviso to Section 139(1).

1. Seventh Proviso to Section 139(1) – What is it about?

This proviso was introduced to mandate filing of Income Tax Returns (ITR) for individuals whose aggregate amount of cash deposits exceeds ₹5 crore in a financial year (including deposits in all bank accounts). It came into effect from FY 2022-23 (AY 2023-24).

2. What does "aggregate tax deducted at source and tax collected at source" mean?

Aggregate TDS and TCS is the total amount of tax deducted or collected at source on your income during the financial year.
This is the total TDS deducted from all your income sources (salary, interest, rent, etc.) plus any TCS collected (e.g., on sale of goods).
This is shown in Form 26AS or Form 16.

3. Your example – Salary ₹12 lakh and TDS ₹80,000

If your salary income exceeds ₹12 lakh, you must file return anyway (per regular ITR rules).
The Seventh Proviso is an additional condition mandating filing based on cash deposits.
The ₹80,000 TDS deducted by employer is part of your aggregate TDS.

4. Does deposit in more than one saving account aggregating ₹5 lakh or more count?

No, the threshold here is ₹5 crore aggregate cash deposits across all accounts, not ₹5 lakh.
So, total cash deposits across all your bank accounts in FY exceeding ₹5 crore will trigger filing under this proviso.

5. Does FD redemption and creation count as deposit?

FD creation counts as deposit (money going into the account).
FD redemption (money coming out) is withdrawal, so it does not count as deposit.
For the proviso, only deposits (credits) matter, not withdrawals.

6. Does salary deposit and then transfer to another account count twice?

No, cash deposit is counted based on credits in each account.
If you receive salary in Account A (say ₹1 lakh) and transfer ₹1 lakh to Account B, the deposit in Account A is counted.
The transfer to Account B is just an inter-account transfer and not a fresh deposit. So, it is not double counted.

Summary:

Question	Answer
Income > ₹12 lakh salary, need to file return?	Yes, filing is mandatory based on income criteria.
What triggers 7th proviso filing?	Aggregate cash deposits > ₹5 crore in all bank accounts during FY.
Aggregate TDS/TCS meaning?	Total TDS and TCS deducted/collected in FY across all incomes.
Does multiple savings accounts with total ₹5 lakh deposits count?	No, threshold is ₹5 crore deposits (not ₹5 lakh).
Does FD redemption and creation count?	FD creation counts as deposit; redemption does not count as deposit.
Does salary deposit and inter-account transfer count twice?	No, only the initial salary credit counts as deposit, not transfer between own accounts.