FOR INDIA'S BEST CA CS CMA VIDEO CLASSES CALL 9980100288 OR VISIT HERE
Take This Quiz & Predict Your Score in the coming CA CS or CMA Exam!
  • How important it is for you to pass the exam in this attempt?
  • What percentage of course you have finished well so far roughly?
  • How many hours you study in a day?
  • How many times you have revised the topics you have finished
  • Have you taken online or pen drive or live class from a renowned faculty?
  • What percentage of the classes you have watched?
  • Have you attempted mock tests or practice tests yet?
  • Are you planning to attempt mock tests conducted by external bodies- ICAI, ICSI, ICMAI or other institute?
  • How many tests you have taken?
  • Did you manage to finish the test papers on time?
  • Are you strictly following study material provided by the exam conducting authority such as ICAI/ICSI/ICMAI/Other Body?
  • How is your health in general?
  • How is your food habit?
  • Any interest in yoga or exercise or play sports regularly?
  • Planning to sleep well nights before the exams?
  • Planning to have light food and water before exams?

How to file itr 1

How to file itr 1

What is the ITR-1 Form?

The ITR-1 Form, also called Sahaj (meaning easy in Hindi), is the Income Tax Return Form for salaried individuals (i.e. salary/pension/family pension and interest income).

Who is eligible to file the ITR-1 Form?

ITR -1 should be filed for an assessment year, when Total Income of an Individual includes:

  • Income from Salary/Pension
  • Income from One House Property (excluding cases where loss is brought forward from previous years)
  • Income from Other Sources (excluding winning from Lottery and Income from Race Horses)

In case of clubbed Income Tax Returns, where a spouse or a minor is included, this can be done only if their income too is limited to the above specifications.

Who is not eligible to file the ITR-1 Return?

Individuals who are not eligible to fill the ITR-1 SAHAJ form are those who have earned Income through the following means:

  • more than one Property
  • Lottery, Racehorses, Legal Gambling etc.
  • non tax-exempted capital gains (Short term and Long term)
  • agricultural means exceeding Rs. 5000
  • Business and Profession
  • Individual who is a Resident and has

    • assets (including financial interest in any entity) outside India or
    • signing authority in any account located outside India.
  • Individual claiming relief of foreign tax paid or double taxation relief under section 90/90A/91.

What is the structure of the ITR-1 Form?

ITR-1 is divided into:

  • Part A: Personal Details
  • Part B: Gross Total Income
  • Part C: Deductions and Taxable Total Income
  • Part D: Tax Computation and Tax Status
  • Schedule IT: Details of Advance Tax and Self Assessment Tax Payments
  • Schedule TDS1: Details of Tax Deducted at Source from Salary (As per Form 16 issued by employer)
  • Schedule TDS2: Details of Tax Deducted at Source from Income other than Salary (As per Form 16A, issued by Deductor(s))
  • Supplementary Schedules TDS1, TDS2 and IT

The ITR-1 Form can also not be used if you are claiming double taxation relief under Section 90/90A/91.

How do I fill out the ITR-1 Form?

Documents which you should keep in hand before filling out your ITR-1 form are:

  • Form 16s, issued by all your employers for the given Financial Year
  • Form 26AS – remember to verify that the TDS mentioned in Form 16 matches the TDS in Part A of your Form 26AS
  • If you have not been able to submit proof of certain exemptions or deductions (such as HRA allowance or Section 80C or 80D deductions) to your employer on time, keep these receipts handy to claim them on your income tax return directly.
  • PAN card
  • Interest from bank account details – bank passbook or FD certificate

The ITR-1 Form can also not be used if you are claiming double taxation relief under Section 90/90A/91.

How to file itr 1

At CAKART www.cakart.in you will get everything that you need to be successful in your CA CS CMA exam – India’s best faculty video classes (online or in pen drive) most popular books of best authors (ebooks hard copies) best scanners and all exam related information and notifications.Visit www.cakart.in and chat with our counsellors any time. We are happy to help you make successful in your exams.

.

www.cakart.in.

Click Here to download FREE CA CS CMA Text Books.

Leave a comment

Your email address will not be published. Required fields are marked *