ITR-1 Form Filing – Income Tax Return

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ITR-1 SAHAJ Form is the most widely used form of the persons to register their tax returns with the Income Tax Department of India. Individuals whose income is within L 50 million and have earned their income for the financial year through salary or pension, except for one house property and lottery, reshors, legal gambling etc. other sources using ITR-1 Your IT returns are eligible to file returns.

Appraisers who have income from overseas property, agricultural income which is more than Rs.5000 Income from business or profession and income from more than one home property are not eligible to file using the ITR-1 form.

ITR 1 form

Process to fill ITR 1 form

Form ITR 1 can be deposited in the Income Tax Law Department in several ways:

Can be filed as a return paper.
Returns can be filed online using the taxpayer’s digital signature.
An online return can be filed using the electronic verification code.
After submission of ITR-V, online returns can be filed.
If you have opted for method 4, then print two copies of the form ITR-V. A copy of ITR-V should be retained by the assessee for its record, the second copy which is signed by the assessee will have to be sent by post:

Post bag No.1,
Electronic City Office,
Bangalore- 560 100,
Karnataka.
Only the following individuals have the option of filing returns in the paper form:

A person aged 80 years or more at any time during the last year; Or a person or a HUF whose income is not more than five lakh rupees and no return is claimed in the return of income.

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BASIC

all inclusive fees

Rs.200
  • Income tax return filing for an individual with salary income of less than Rs.5 lakhs.
STANDARD

all inclusive fees

Rs.500
  • Income tax return filing for an individual with salary income of less than Rs.10 lakhs.
PREMIUM

all inclusive fees

Rs.800
  • Income tax return filing for an individual with salary income of more than Rs.10 lakhs.

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Who can use the ITR-1 form?

ITR-1 should be filed by individuals whose income is limited to salary / pension, except for a house property and other sources (except winning the lottery and race horses).

Who should not enter ITR-1 form?

ITR-1 Form should not be filed for the following cases:

1.Income which is Rs. More than 5 million

2.Assisi has taxable capital gains

3.The assessee has any of the following income sources:

a.Income from foreign property

b.Agricultural income which is Rs. More than. 5000

c.Income from business or profession

d.Income from more than one home property

ITR-1 Should Be Filed?

The ITR-1 form should be used when the assessee’s income is Rs. 50 million and when the source of income comes in any of the following categories:

1.Income from Salary / Pension
2.Only income from a house property
3.Lottery, income from foreign sources, capital gains, business or profession, agricultural income which is more than Rs. 5000

What is the due date for filling the ITR-2 form?

ITR-1 Form should be filed by individuals and HUF on or before July 31 of each year.

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