Sft in ay 2020-21

This discussion clarifies whether to use ITR 1 or ITR 2 when you've purchased a house property. The key factor isn't just the Statement of Financial Transactions (SFT) amount, but rather if you have income from more than one house property. If you've rented out your property and the income exceeds a certain threshold, or if you have income from multiple properties, you'll likely need to file ITR 2. Otherwise, ITR 1 may suffice, assuming no other complex income sources.