If you are a salaried individual, you need to file the ITR-1 Form (SAHAJ) through online before the due date. Read the complete article to know How to file ITR-1 Form, Due dates, eligibility, etc.
What is Income Tax ITR 1 Form?
ITR 1 Form is also known as Sahaj Form which is used for filing Income Tax Return with the IT Department. It applies to most of the Salaried Individuals (i.e., salary/pension/family pension & interest income). This ITR-1 Sahaj Form does not apply to all categories of Salaried Individuals/Employees because some of the Salaried Individuals are required to submit their tax returns in ITR Form 2 or in the newly introduced Income Tax Return Form 2A. ITR 1 Form is easy to file as it is one of the simplest Income Tax Return Forms without any complications.
Eligible Individuals for ITR-1 Form
All individuals are not eligible for filing ITR 1 Sahaj Form. The taxpayers whose income includes any of the following are only eligible to file tax returns in ITR-1 Form.
- Income from Salary/Pension.
- Income from One House Property (excluding cases where the loss is brought forward from previous years).
- Income from Other Sources (excluding Income from Race Horses and winning from Lottery).
Income from Salary/Pension:
You can use ITR 1 Form if your employer has paid you any salary or pension which would be taxable under the head “Income from Salaries”.
Income from One House Property:
You can use ITR-1 SAHAJ Form if your income includes “Income from One House Property”. If you have income arising from more than one house property, then you are not eligible to use ITR-1 Form. Also, you are not eligible to use ITR Form 1 in the case where the loss arising under head “Income from House Property” is brought forward from the previous year.
Income from Other Sources:
You can use this ITR 1 Sahaj Form for submitting your annual tax returns in case you have income arising from other sources like Interest Income, etc. However, you are not eligible to use ITR 1 Form in the case of Income arising from race horses or from winning a lottery.
In the case of clubbed Income Tax Returns, where a minor or a spouse is included, this Income Tax Return Form 1 can be used only if their income being clubbed is limited to the above specifications.
Who are not eligible to use ITR Form 1?
You are not eligible to use IT Return Form 1 if you have income from any of the following sources. The Individuals from these classes have been specifically excluded from using this Income Tax ITR Form 1.
- Income from more than one Property.
- Income from Racehorses, Lottery, Legal Gambling etc.
- Non-tax-exempted capital gains (Short term capital gains and Long term capital gains).
- Agricultural income exceeding Rs. 5000.
- Income from any Business / Profession.
- Individual who is a Resident and has
- assets (including financial interest in an entity) located outside India or
- signing authority in an account outside India.
- Individual claiming double taxation relief or relief of foreign tax paid under section 90 / 90A / 91.
Structure of ITR 1 SAHAJ Form
ITR-1 consists of various parts and schedules as shown below.
- Part A: Personal Details.
- Part B: Gross Total Income.
- Part C: Deductions and Taxable Total Income.
- Part D: Tax Computation and Tax Status.
- Schedule IT: Details of Advance Tax and Self Assessment Tax Payments.
- Schedule TDS1: Details of TDS (Tax Deducted at Source) from Salary (As per Form 16 issued by an employer).
- Schedule TDS2: Details of TDS (Tax Deducted at Source) from Income other than Salary (As per Form 16A, issued by Deductor(s)).
- Supplementary Schedules TDS1, TDS2, and IT.
Manner of filing Income Tax ITR-1 Form
There are different ways of filing ITR-1 Form with the Income Tax Return, they are
- By furnishing the IT return in a paper form.
- By furnishing the Income tax return electronically under digital signature.
- By transmitting the data in the IT return electronically under EVC (electronic verification code).
- By transmitting the data in the Income Tax return electronically and thereafter submitting the verification of the IT return in Form ITR-V. In this manner, the assessee should print out 2 copies of Form ITR-V.
One copy of ITR-V may be retained by the taxpayer for his record. The other copy of ITR-V Form which is duly signed by the assessee/taxpayer has to be sent by post to –
Post Bag No. 1,
Electronic City Office,
Bengaluru – 560100, Karnataka.
Due date for filing IT Return Form 1
The taxpayers who are filing their tax returns in ITR 1 form are not required to prepare accounts & get them audited. So, the due date for filing ITR-1 SAHAJ Form is 31st July of the next FY (financial year) for which the return is being filed.
Therefore, if ITR 1 Form is being filed for the financial year 2015-16, the due date of submitting ITR 1 Sahaj Form would be 31st July 2016. For other years also the due date would similarly be calculated.
In case an assessee fails to furnish his IT Return before August 31, 2015, he can file a Belated IT Return till 31st March 2015 but in such a case the interest would be levied.
Obligation to file return
Every individual whose total income before allowing deductions exceeds the maximum amount which is not imposed to Income Tax is obligated to furnish his Income Tax return. The maximum amount that is not chargeable to income tax in case of different classes of individuals is as follows.
|1.||In the case of individuals below the age of 60 years||Rs. 2,50,000|
|2.||In the case of individuals, who are of the age of 60 years or more at any time during the FY (financial year) 2015-16, being resident in India||Rs. 3,00,000|
|3.||In the case of individuals, who are of the age of 80 years or more at any time during the FY (financial year) 2015-16, being resident in India,||Rs. 5,00,000|
How to file ITR-1 Form?
The taxpayer can submit the ITR Form 1 through online or offline. From the FY (Financial Year) 2013-14, it is made mandatory that all the taxpayers earning more than Rs. 5 Lakhs must furnish their IT Returns electronically, through the process mentioned here.
You can submit the ITR-1 Form through offline by furnishing,
- A return in a physical paper form.
- A bar-coded return.
At the time of submission of your physical paper return, the Income Tax Department will issue you an acknowledgment.
Filing ITR-1 Sahaj Form Online:
You can submit the ITR-1 Form through online/electronically by,
- Furnishing the IT return through online/electronically under digital signature.
- Transmitting the data through online/electronically and then submitting the verification of the Income Tax return in IT Return Form ITR-V.
Steps to be followed:
- Create an account on the income tax website http://incometaxindiaefiling.gov.in/.
- This is the one time process. Once if you created the account, you can use it every year.
- Log in to the account using User ID and Password.
- Enter your personal details like Name, Date of Birth and PAN number.
- Next, follow the instructions carefully and submit the form to IT department.
Documents required to file Income Tax Return Form 1:
Documents which you should keep in hand before filling ITR-1 form are:
- Form 16s, issued by your employer for the given FY (Financial Year).
- Form 26AS – remember to verify that the TDS (Tax Deducted at Source) in Part A of your Form 26AS matches the TDS (Tax Deducted at Source) mentioned in the Form 16.
- If you have not been able to submit proof of certain deductions (such as HRA (House Rent Allowance) or Section 80C or Section 80D deductions) or exemptions to your employer on time, keep these receipts handy to claim them on your IT return directly.
- PAN Card.
- Interest from bank account details – FD certificate or bank passbook.
Income Tax Return 1 Acknowledgment
If you are filing the ITR-1 Sahaj Form physically, the IT department will issue an ITR 1 acknowledgment at the time of submission of the physical paper return.
If you are filing the ITR Form 1 through online/electronically, the ITR 1 Acknowledgment would be sent to your registered E-mail ID. You can also manually download the Income Tax Return 1 Acknowledgment from the income tax website. The taxpayer/assessee is required to sign that ITR 1 Acknowledgment and send it to the Income Tax Department’s CPC office in Bangalore.