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Using ITR-1 for filing in AY 2021-22

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Lekshmi Narayanan

23 Points Posted on 12 August 2021

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)

ramdoss m

124 Points Posted on 12 August 2021

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.