Expert
1873 Points
Joined May 2007
Form No. 1 will have to be filed because as per Rule 12 of the IT Rules, in the case of a person being an individual where the total income includes income chargeable to income-tax, under the head,— (i) "Salaries" or income in the nature of family pension as defined in the Explanation to clause (iia) of section 57; or (ii) "Income from house property", where assessee does not own more than one house property and does not have any brought forward loss under the head; or (iii) "Income from other sources", except winnings from lottery or income from race horses, 7[and does not have any loss under the head] be in Form ITR-1.