A. This Return Form should not be used by an individual who –
(a) is a Director in a company;
(b) has held any unlisted equity shares at any time during the previous year;
(c) has any asset (including financial interest in any entity) located outside India;
(d) has signing authority in any account located outside India; or
(e) has income from any source outside India.
B. This return form also cannot be used by an individual who has any income of the following nature during the previous year:-
(a) Profits and gains from business and professions;
(b) Capital gains;
(c) Income from more than one house property;
(d) Income under the head other sources which is of following nature:-
(i) winnings from lottery;
(ii) activity of owning and maintaining race horses;
(iii) income taxable at special rates under section 115BBDA or section 115BBE;
(e) Income to be apportioned in accordance with provisions of section 5A; or
(f) Agricultural income in excess of ₹5,000.
C. Further, this return form also cannot be used by an individual who has any claims of loss/deductions/relief/tax credit etc. of the following nature:-
(a) any brought forward loss or loss to be carried forward under the head ‘Income from house property’;
(b) loss under the head ‘Income from other sources’;
(c) any claim of relief under section 90 and/or section 91;
(d) any claim of deduction under section 57, other than deduction under clause (iia) thereof (relating to family pension); or
(e) any claim of credit of tax deducted at source in the hands of any other person.
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