The ITR-1 form seeks details on income from a retirement benefit account maintained in a foreign country for the calculation of net salary.
It also seeks details on whether or not the said retirement benefit account was maintained in a notified country under section 89A of the I-T Act.
ITR-1 or Sahaj is a return filing form applicable to the individual who derives income from salary, rent, and interest.
Sahaj can be filed by an individual having income up to Rs 50 lakh and who receives income from salary, one house property and other sources (interest, etc). ITR-4 can be filed by individuals, Hindu Undivided Families (HUFs) and firms with total income up to Rs 50 lakh and having income from business and profession.
ITR-3 is filed by people having income as profits from business/ profession, while ITR-5 is filed by LLPs (Limited Liability Partnership).