The ITR-1 Form, also known as ITR-1 Sahaj Form is an essential form for salaried individuals of India which is issued by Income Tax Department for income tax return filing. Every citizen is obligated to file returns at the end of financial year with the Income Tax Department. It should be filed before the due date.
Eligibility for ITR-1 Sahaj Form
A person is eligible to file the form when total income of a taxpayer includes:
- Income from salary or pension.
- Income from one house property (loss from previous years excluded).
- Income from other sources (lottery, bets etc. excluded).
Non-eligibility for ITR-1 Form
A person is not eligible to fill the ITR-1 SAHAJ form if he/she has earned income through the following means:
- Lottery, betting, legal gambling etc.
- non tax-exempted capital gains (STCG & LTCG).
- agricultural means that exceeds Rs. 5000.
- any kind of business & profession.
- Person who is a resident of India and has assets outside India or has authority of any account situated outside India.
- Person claiming relief of foreign tax paid or double taxation relief.
Structure of ITR-1 Form
How to fill out the ITR-1 Form?
Following documents are required for filing ITR-1 form:
- Form 16s, for the given fiscal year which is issued by all employers.
- Form 26AS (TDS in Form 16 should match the TDS in Part A of Form 26AS).
- PAN card
- If proof of certain exemptions or deduction is not submitted to the employer on time, a document should be kept to claim them directly on income tax return.
- Interest details from a bank account.
How do I file my ITR-1 Form?
There are two ways to submit ITR-1 Form:
- Offline: Fill and submit the form with necessary documents. At the time of submission, the Income Tax Department will issue an acknowledgment of physical paper return.
- Online: Fill out the form and submit the data electronically. After that, submit the verification of the return in Return Form ITR-V. Acknowledgment will be sent via registered E-mail id. After that, download the acknowledgment, sign it, and send it to the Income Tax Department office within 120 days.
Related Post: ITR-3 Form
For any help on ITR Filing feel free to consult the tax experts at Taxraahi. You can file ITR yourself via our ITR software or get CA’s help on filing income tax return. You can also use the option of Business Return, and Bulk Return.