Using ITR-1 for filing in AY 2021-22

My mother has the following incomes:

1. Family pension

2. Interest Income from bank deposits

3. Interest Income from company fixed deposits

4. Interest income from 54EC bonds

No other sources of income.

Is she eligible to file using ITR-1? I am asking this question because the IT website says ITR-1 can be used if you have interest income from bank and post office. It does not talk about interest from bonds and company deposits.

Kindly advise. Thanks

Lakshminarayanan

Replies (2)
Quick Summary
This discussion clarifies whether an individual with family pension, bank interest, company fixed deposit interest, and interest from 54EC bonds is eligible to file their Income Tax Return using the ITR-1 form for AY 2021-22. The user seeks confirmation as the IT website's guidance on 'other sources' income for ITR-1 is perceived as potentially ambiguous regarding bonds and company deposits.

As per IT rules, 

ITR -1  Form is a simplified one-page form for individuals having income up to Rs 50 lakh from the following sources :

  • Income from Salary/Pension
  • Income from One House Property (excluding cases where loss is brought forward from previous years)
  • Income from Other Sources (excluding winning from Lottery and Income from Race Horses)

Income from other sources include Family Pension, interest on fixed deposits / other deposits, interest on securities.

Do I understand that "other deposits" would cover bonds and company deposits? 

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