Salaried Individuals can file ITR-1 (Sahaj) in India. There are two ways to file ITR-1 either physically or electronically. The due date to file ITR-1 is the 31st of July of the next financial year. The financial year 2013-14 onwards, electronic filing (e-filing) of ITR-1 has been made compulsory for taxpayers having an income of more than INR 5 Lakhs.
Physical Submission of ITR 1
Only individuals above the age of 80 years or Individuals/HUF with total income less than INR 5 lacs and no claim of refund can furnish a return physically. Following are the steps to file ITR physically/offline:
- Download ITR-1 Form from Income Tax Website,
- Fill the form and submit the ITR-1 in paper form to the IT Department.
- The department will provide you with an acknowledgement along with a stamp of submission on your copy.
Online submission of ITR 1
- Prepare and submit ITR-1 from your login on the Income Tax e-Filing Portal. OR
- You can prepare ITR-1 offline using Income Tax Return Preparation Utility and subsequently submit the ITR from your login on Income Tax Website. OR
- You can e-file it through E-Return Intermediary (ERI) like Quicko.
Steps to Prepare and File ITR 1 on Income Tax e-Filing Website
- Go to Income Tax e-Filing Portal
Login to your Income Tax e-Filing Website.
- Navigate to Income Tax Returns option
Go to e-file > Income Tax Returns from the dashboard.
- Select Assessment Year, ITR Form, Submission Mode
Submission Mode should be Prepare and Submit Online
- Enter the required details
Select the details you wish to get prefilled from records available with the IT Department.
- Click on Preview and Submit if you have entered all the data correctly.
You can also save a draft if you want to cross-check data with supporting documents or add data later.
Structure of Income Tax Return – Sahaj
|PART A- GENERAL INFORMATION||Personal Information||Name, Address, Date of Birth, PAN, Aadhaar Number, Contact Details, etc.|
|Filing Status||Employer Category, Filing Type, Return filed under the section, etc.|
|PART B||Gross Total Income||Income from Salary, Pension, One House Property, Other Sources|
|PART C||Deductions And Taxable Total Income||Deductions under Section 80C, 80D, 80E, 80G, 80TTA, etc and Taxable Total Income|
|PART D||Computation of Tax Payable||Breaking up Tax computation, Interest, Cess, Rebate, etc.|
|PART E||Other Information||Details of all Bank Accounts held in India at any time during the previous year. IFSC Code, Name of Bank, Account Number.|
|Schedule IT||Details of Advance Tax and Self Assessment Tax Payments||BSR code, Date of Deposit, Chalan Number, Tax Paid.|
|Schedule TDS||Details of TDS/TCS by Employers/ Deductors/ Collectors||TAN, Name of Deductor/collector, Year of Deduction/collection, Tax Deducted/collected, etc.|
|Exempt Income||Details of exempt Income and Allowances from salary income.||Nature of Income/ Allowance, Description, and Amount.|
No. ITR-1 can only be filed by resident individuals with the following income situations:
1. Having a salary income up to Rs. 50,00,000,
2. With One House Property Income,
3. Having Income From Other Source,
3. Having Agriculture Income up to Rs. 5,000.
Yes. Any pensioner who only has pension income can file ITR-1. Since pension income is treated as salary income they can also claim Standard Deduction up to Rs. 50,000 on pension income.
Yes, since Interest Income is covered under the head “Income From Other Source” you can file ITR-1 for the same.