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This page describes all the essentials you need to know about ITR-1 form including the details of eligibility, structure of the form, filing it and essential terms. It is the simplest form among all the income tax return forms. It applies to most of the salaried person except those who requires filing ITR-2 form.
ITR-1 form is also referred as “Sahaj” form, is designed for the salaried person to file income tax return with. Sahaj stands for “Easy” in Hindi and any salaried person including pensioners, family pension holder and person earn income by interest can use this form to file ITR. Usually, the deadline for filing income tax return with ITR-1 Form is 31st of July.
For filing income tax return with ITR-1, taxpayers must have the followings included into their income:
If you are looking to club your spouse or minor child’s income into it than such can be done only if their income is also limited to the above specifications.
If any individual has income from any of the following sources, then they must not use the ITR-1 form to file income tax return:
ITR-1 or Sahaj Form has the following sections included into it:
Before start filling out the ITR-1 form, you must keep this documents ready in your hand:
Advance Tax:TDS is advance tax paid by the salaried individual. But if you have earnings generated from FDs, savings accounts, rental income, bonds and capital gains and if your total tax payable amount exceeds INR 10,000 per year then you need to file advance tax in instalments. The instalments need to be filed in September, December and March.
Notice Number:If you have received any notice from Income Tax Department and filling ITR in response of that, then this section should be filled by you.
Self-Assessment Tax Payments:This refers to the difference between tax payable and tax paid which you need to pay before you file your return. While filing ITR, first fill out the details of advance tax paid by you and calculate your income. Once you calculated it, you will find the amount of tax you need to pay and fill in that details in this section.
Revised Return:If you have discovered any fault in your last filed income tax return form, then you can re-file a revised ITR
Annexure-less Return:It means you do not have to attach any documents with ITR-1 Form.
ITR-1 Form can be filed through online and offline mode depending on your choice. However, any taxpayer with income over INR 5 lakhs must file their income tax returns electronically.
Online / Electronic Mode:
The IT Department will issue ITR-V which is an acknowledgement of submission of the physical paper return.
For e-filing under digital signature, the acknowledgement form will be sent to the registered email ID. You can download it manually from the website, then sign it and send it to the CPC office located in Bangalore within 120 days from the date of e-filing ITR.
Refer our guide to “How to send ITR-V to CPC Bangalore” to understand the process correctly.
Yes, in that case, you need to file ITR with the ITR-2 form. The exemptions can be claimed under such condition are: