ITR-1 is the simplest one-page Income Tax Return Form for individuals having income from Salary / Pension, One House Property, and Other Source. It is the basic ITR Form.
Who can file ITR 1 (SAHAJ)?
Any individual whose total income does not exceed Rs. 50 lakh and includes:
- Salary / Pension Income.
- Income from one House Property (If there is a brought forward loss from previous years, ITR-1 cannot be filed).
- Income from Other Sources (excluding winning from Lottery and Income from racehorses).
In case the income of a spouse or minor child is clubbed with the taxpayer’s income then they can file it only if their clubbed incomes include the above categories.
Who can not file ITR-1 (SAHAJ)?
It should not be used by Non-Resident of India (NRI) and the individuals whose total income includes:
- Income from multiple House Property
- Income from winnings from lottery or income from racehorses
- Capital Gains Income (short term and long term Capital Gains from the sale of house, plot, shares, etc.)
- Agricultural income exceeding Rs. 5000/-
- Income from Business and Profession
- Resident individual having
- Any asset (including financial interest in any entity) located outside India or
- Signing authority in any account located outside India
- Individuals claiming relief of Foreign Tax paid or Double Taxation Relief under section 90/90A/91.
- Resident Individual who has incurred an expense of INR 2 Lakh or more on Travel to a foreign country.
- Individual who has paid INR 1 Lakh or more as electricity bill
- Anyone who has deposited more than INR. 1 Crore in a bank account during the year
List of Documents Required
Before you start working on your ITR, you should have the following documents handy:
- PAN (Permanent Account Number)
- Aadhaar Number
- Passport Number
- Bank account details
- Form 26AS
- Form 16
- Details of original return if filing revised return
- Details of notice if filing in response to a notice
- Salary Income
- Form-16 or Salary slips received from your employer and
- Pension statement/passbook.
- House/Property Income
- Address of the property,
- Coowner details in case the property is coowned,
- In case of house/property loan Interest certificates/repayment certificate from a bank,
- In case of let out property Rent agreement
- Other sources
- Savings/current account statements/Passbook
- Interest certificates for deposits/bonds/NSC
- PPF account statement/Passbook
- Dividend warrants/counterfoils
- Rent agreement in case of let out machinery
- Details about receipts of any other incomes
No. NRI can file any other ITR form depending upon the source of income earned by them in India. ITR-1 can only be filed by an Ordinary Resident of India.
ITR-1 is an annexure less form. Hence no need to send any supporting documents to the IT Department.
Yes. Any resident individual who has earned income from salary during the financial year can file ITR-1. Change in employment does not affect the ITR form type.
Yes. A taxpayer can file ITR-1 without Form 16. However, he needs to calculate his taxable salary income for a financial year while filing ITR.
Yes. It is mandatory to provide active bank account details. You are also required to select one account as your primary account. Since your refund will be directly issued to your Bank Account vis ECS.
Yes. You can file a ‘Belated Return’ after the due date. You can file a belated return before the end of Assessment Year or before the completion of the assessment whichever is earlier. Late filing fees as per section 234F will also be levied.
Yes, you can file exempt income in ITR-1. However, if agriculture income exceeds Rs. 5000 then you will have to file ITR-2.