Tax return: 10 reasons why a taxpayer cannot use the ITR-1 form
Income tax declaration: The income tax return (ITR) filing deadline for FY22 and AY23 is July 31, 2022. Therefore, earners should be busy analyzing their income and expenses for the fiscal year and year of taxation mentioned above. However, the taxpayer should be aware that there are different ITR forms applicable to different types of earners. Of the various ITRs formed by the Income Tax Service, the simplest form is ITR-1. Many times, ITR-1 is filed by taxpayers as a standard ITR form without understanding the exact eligibility to file the correct ITR form. It is therefore important for a taxpayer to know under what circumstances a taxpayer cannot complete the ITR-1 form.