written by | May 27, 2022

Know All About ITR-1 Sahaj Form – File ITR-1 Online

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There are various ITR forms, i.e. forms for filing your income tax returns in India, each with its own criteria. Each of these applies to different income bracket groups whereby the concerned individuals have to file their returns for every financial year. Form ITR 1 means the filing returns by individuals whose cumulative income every year totals 50 lakhs. The income could result from revenue accruing from different sources like pension or a 2nd home given on rent. There are various conditions that individuals have to qualify for to use this form to file their returns. One of the key preconditions is that you have to be a resident of India. If your total income extends beyond this amount, you are not eligible to use this form.

Moreover, irrespective of the ITR form one resorts to, for filing income tax returns, you have to first ensure that your Aadhar and PAN card is linked to the Income Tax department of India. Individuals can make the ITR 1 e filing of tax returns on the official website of the Income Tax department of India. The process is explained in very simple terms and easily guides individuals from one step to the next. This ITR 1 form is also referred to as ITR 1 Sahaj.

Did you know?

India’s income tax department has seven different forms, which are titled ITR 1 – ITR 7, each applicable to different income groups.

Who is Eligible to File ITR-1 for AY 2021-22?

The ITR-1 for assessment year  (AY) 2021-2022 pertains to the income that individuals have earned during the time frame of 2020-2021. This can be done only by individuals who fulfil the following conditions, namely:

  • They have to be Indian residents.
  • Their total earnings for the assessment year of 2021-2022 amount to 50 lakhs but not more than that.
  • The total earnings could be from renal earnings (from another property owned by individuals).
  • The total earnings also include pension and interest earned on the income earned.
  • Some individuals include the income earned by their marital partners as well. Even if this income is added, you can use this form only if the total income amounts to 50 lakhs.

Also Read: Which ITR Should I File? Types of ITR

Who Cannot File ITR-1 For AY 2021-22

There are specific criteria for filing returns using the ITR 1 Sahaj form. Individuals who cannot meet the conditions laid down by the government of India do not qualify. Below are the details of individuals who cannot file ITR 1 Sahaj.

  • Individuals whose total income for the financial year exceeds the amount of 50 lakhs.
  • Individuals employed in the capacity of a Director in an organisation own equity shares that are unlisted during any part of the assessment year.
  • Non-resident Indians and RNOR individuals (residents, not ordinarily residents). RNOR is a residential status provided to NRIs who return to India permanently. They enjoy this status until they are declared Indian residents again (when they fulfil the tenure of residing for the required time as per the rules of the government of India.
  • Individuals who earn revenue from another source are based out of India.
  • Individuals who are authorised signatories in other geographical regions outside India.
  • Individuals who have delayed payment of taxes on the employee stock options given to them by their employers (with reference to eligible start-up companies).
  • Individuals who have profited by indulging in gambling, be it horse racing or lottery tickets.
  • Individuals who withdraw cash and tax have been deducted at source under section 194N about such cash withdrawals.
  • Individuals who have enjoyed a profit from either a profession or a business in the previous year.
  • Owners of racehorses.
  • Individuals who make a relief claim under sections 90 and 91.
  • Anyone who tries to claim relief under the double taxation scheme.

What Is The Structure Of The ITR-1 Form?

The structure of the ITR-1 form includes 8 sections. The details of the same are given below:

  • Section A - This asks you to furnish all your personal details
  • Section B - Details of the gross income earned by you
  • Section C - The total income that has to be taxed and details of the deductions
  • Section D - The status of the tax and the tax computations.
  • Section E or Schedule IT – Details of self-assessment tax payments as well as advance tax
  • Section F or Schedule TDS1 - Details of tax which is deducted at source (TDS) and tax which is collected at source
  • Section G or Schedule TDS2 – Sources of earning other than income and the TDS details related to the same
  • Supplementary schedules IT, TDS1, and TDS2

The image given below gives you an insight into Part A of the ITR 1 Sahaj form:

Before you start filing your returns on the ITR 1 Sahaj form, you need to ensure that you have all the relevant documents organised, which are as follows:

  • Salaried personnel will have to complete all the details in Section B of Form 16, which employers provide
  • Ensure that the tax deducted at source (TDS) details which are stated in Section A of Form 16, are the same as the TDS details on Form 26AS
  • If you are eligible for HRA allowance but cannot furnish the necessary details to your employer, you can claim the amount while filing your returns.
  • Your PAN card
  • All details regarding interest paid on your savings for which you should have your bank statements or an updated bank passbook. You also need to provide a certificate if you have invested in Fixed Deposits.

How Do I File My ITR-1 Form?

ITR 1 return filing can be done online as well as offline.

For offline filing of income tax returns, the government has laid down some specific rules, which are as follows:

  1. Your age was 80 years or more than 80 years in the previous year.
  2. If your income has been below 5 lakhs and you have not applied for a refund, this also applies to a Hindu Undivided Family.

ITR 1 Return Filing Offline

If you are well-versed with the details that need to be furnished, you can fill out the form yourself. You can also take the assistance of the accounts department in your organisation of your Chartered Accountant (CA). Once the duly filled form is submitted, the income tax department acknowledges the same.

ITR 1 Return Filing Online

 

Also Read: ITR-2 Form- File ITR-2 Online

There are a number of steps involved in this. Details of the entire procedure are given below:

  • You have to visit the website of the income tax department of India, namely https://www.incometaxindia.gov.in/pages/default.aspx
  • You have to use your PAN number to log in
  • Once you have logged in, go to the ‘e-filing’ menu. Select the option titled ‘income tax return’.
  • When you land on the next page, you have to select the section titled ‘assessment year, ITR form number. Now click on the section titled ‘revised’.
  • You now have to click on the section titled ‘prepare and submit online.’
  • Click on ‘general information’. Select ‘Return Filing Section’.
  • The next step involves clicking on the ‘Revised Return’.
  • Click on the Return Filing tab and select ‘Revised’.
  • Key in the details pertaining to the date of filing the income tax returns and the acknowledgement number as well
  • Provide all the necessary details
  • Now submit the form
  • You can verify the returns online and complete the process.

Conclusion

This article explains the ITR 1 form meaning the criteria for filing returns using the ITR 1 Sahaj form, and how you can do the same on paper and online. Every citizen eligible for filing returns must do so dedicatedly at the end of every financial year. Employees who are not sure of the details required can always seek the assistance of their in-house accounts department or a chartered accountant. The ITR 1 e filing is one of the most simple procedures to file your income tax returns. As this article explains, if your total income in the previous year amounts to 50 lakhs, you must resort to this form to file your returns for the assessment year. 

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FAQs

Q: How many parts does the ITR 1 Sahaj form have?

Ans:

The ITR 1 form has about 7 sections, and the details of each section are self-explanatory. In case of any confusion, you can seek the help of the finance department in the organisation you are employed in. If you have your own Chartered Accountant, you don’t have to worry as these professionals are very skilled at doing the needful.

Q: Can NRIs use the ITR 1 Sahaj form to file their returns?

Ans:

There are some rules for returning NRIs. If they are eligible as per the rules, they can. If they do not fulfil the requirements, they will not be able to file their returns using the ITR 1 form.

Q: Is it possible to file ITR 1 online?

Ans:

Yes, it is possible to file ITR 1 online. Infact, the process is extremely systematic and easy to understand. You have to log on to the official website of the income tax department of India. You can log in with your PAN card number. You can start by selecting the ‘E-filing’ menu. From there, you are guided in very clear terms to the next step until you complete all the formalities. Once you have provided all the requisite details, check them once again and submit the e-form. You will get an acknowledgement from the income tax department. You can download a copy of the form for yourself.

Q: What is the ITR 1 form meaning?

Ans:

ITR stands for income tax returns. There are 7 ITR forms, and the criteria for using these forms vary across all seven forms. ITR 1 form applies to those individuals whose earnings total 50 lakhs per annum. The earnings could include income from a second property's rent and interest earned on savings and fixed deposits, and it can also include income earned through the stock market.

Q: Is the process of ITR 1 return filing easy?

Ans:

Yes. The process is fairly simple, and you can file your returns via the physical format of the ITR 1 Sahaj form or file your returns online.

Q: Explain what ITR 1 means?

Ans:

ITR 1, also known as ITR 1 Sahaj, refers to an income tax form for filing annual income tax returns. Individuals who earn up to 50 lakhs are eligible to use this form and can file their returns after furnishing all their details.

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Disclaimer :
The information, product and services provided on this website are provided on an “as is” and “as available” basis without any warranty or representation, express or implied. Khatabook Blogs are meant purely for educational discussion of financial products and services. Khatabook does not make a guarantee that the service will meet your requirements, or that it will be uninterrupted, timely and secure, and that errors, if any, will be corrected. The material and information contained herein is for general information purposes only. Consult a professional before relying on the information to make any legal, financial or business decisions. Use this information strictly at your own risk. Khatabook will not be liable for any false, inaccurate or incomplete information present on the website. Although every effort is made to ensure that the information contained in this website is updated, relevant and accurate, Khatabook makes no guarantees about the completeness, reliability, accuracy, suitability or availability with respect to the website or the information, product, services or related graphics contained on the website for any purpose. Khatabook will not be liable for the website being temporarily unavailable, due to any technical issues or otherwise, beyond its control and for any loss or damage suffered as a result of the use of or access to, or inability to use or access to this website whatsoever.