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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

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