Answer

1. F

   Facts

   ITR-1 is for resident individuals with total income up to ₹50 lakh from salary or pension, house property, other sources like interest, agricultural income up to ₹5,000, and listed equity long-term gains under Sec 112A up to ₹1.25 lakh.

2. P

   Provisions and law

   • Rule 12, Income-tax Rules 1962 (now Rule 164, Income-tax Rules 2026)Sets which ITR form applies, its eligibility conditions and how it is verified.
   • Sec 139(1), Income-tax Act 1961 (now Sec 263(1))A return is compulsory when income exceeds the basic exemption limit or a specified condition is met; for salaried people the AY 2026-27 due date was 31 July 2026.
3. A

   Analysis

   A salaried person earning ₹14,00,000 with FD interest of ₹30,000 fits ITR-1. You cannot use it if you are a company director, held unlisted shares, have short-term capital gains, foreign assets or income, carried-forward losses, ESOP tax deferred, or are a non-resident or not ordinarily resident. Choosing the wrong form can make the return defective, so check every condition first.

4. C

   Conclusion

   1. 1Confirm you are resident and ordinarily resident.
   2. 2Add up total income and check it is within ₹50 lakh.
   3. 3Check for any excluded item like short-term gains or directorship.
   4. 4If all clear, use ITR-1; otherwise use ITR-2 or another form.
   5. 5Note the AY 2026-27 belated date of 31 December 2026.

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