Income Tax Department has notified new SARAL-II form - ITR 1 for Individuals having Income from Salary / Pension / Income from One House Property (excluding loss brought forward from previous years) / Income from Other Sources (Excluding Winning from Lottery and Income from Race Horses)

 

See notification no. 29/2009 dated 23-4-2010

SARAL-II ITR-1 introduced: simplified individual tax return for salaried, pensioners, single house property, and other income. The Income Tax Department has notified SARAL-II (ITR-1) as the prescribed return form for individuals with income from salary or pension, income from one house property (excluding brought-forward losses), and income from other sources, while excluding winnings from lottery and income from race horses.