ITR 1 (Sahaj) Form

2. Part B – Contains details of Gross Total Income

3. Part C – This section covers details related to deductions and taxable total income

4. Part D – Here you need to provide details of computation of tax payable. Using an income tax calculator is an easy way to complete this calcilation.

5. Part E – In this section the taxpayer can include other information like Bank Account details including account number, IFSC, etc. of all bank accounts held in India during the applicable financial year. This section also allows the tax payer to select a specific bank account for availing any due income tax refund.

6. Schedules – ITR 1 Form for AY 23-24 contains two schedules. The first of the these allows the tax payer to declare any self-assessment tax or advance tax paid during the applicable FY. While on the other schedule one can declare details of any tax deducted at source (TDS) or tax collected at source (TCS) for the applicable financial year.

7. Verification – This section contains fields for date, place of filing and signature/name of the tax payer along with the option of including details of TRP (tax return preparer), if applicable.

Step 2. On the subsequent page you can choose the applicable assessment year:

Step 3. Next the complete list of ITR Forms for the applicable AY is displayed. ITR 1 will the first one displayed in this list and you have the option to download the copy of the form as well as the ITR 1 Excel Utility on this page.

Once you have downloaded the applicable ITR-1 form or Excel-based utility you can proceed with filing your ITR form 1 as per your requirement

• You need to transmit the data electronically first and submit the return verification as ITR-V to CPC, Bengaluru
• You can file the return online and then opt for e-verification of ITR-V via net banking, EVC, or Aadhar OTP
• Next to ITR 1 filing online, you will receive the acknowledgement on your registered email address

Another way you can choose for ITR 1 filing is to download the form from the Income Tax website, fill it and send it to the CPC office of the Income Tax Department within 120 days after e-filing income tax.

Only the following two categories of individuals can opt for ITR 1 filing in paper form:

• Individuals of age 80 years or more during the previous year
• Individuals or HUF (Hindu Undivided Families) who have income under Rs. 5 Lakhs and have not claimed any return refund
• For offline ITR 1 filing, you need to furnish the return in a physical paper form and submit the same to the Income Tax Department.

• Taxpayers need to disclose the amount invested for tax-saving separately from April 1, 2020, till the end of June 2020.
• Individuals having a single property in joint ownership with income up to Rs. 50 Lakhs can also file ITR 1 online or offline.
• Individuals who fulfil the following criteria should also file ITR 1 online:

• Cash deposits above Rs. 1 crore
• Incurred foreign travel expense of Rs. 2 Lakh
• Expenditure on electricity above Rs. 1 Lakh

• For the financial year 2018-19, an individual who is either a company’s director or has invested in unlisted equity shares is not eligible to file the Sahaj Form.
• Pensioners checkbox introduced in Part A of ITR 1 form.
• A column of Section 80TTB has been included for senior citizens.
• Bifurcation must be done for deductions under salary into three parts – standard deduction, professional tax, and entertainment allowance.

Also Read: TDS on Salary

• ITR 1 form has been made applicable only for resident individuals, not RNOR.
• Break-up of salary must be furnished, which was previously included only in Form 16.
• Break-up of income under house property must be furnished, which was mandatory for ITR 2 form.

Also Read: Components of Salary Slip

You need to fill this number only if you have received a notice from the Income Tax Department and are filing the return in response to it.

It is the return you re-file in case you later realize you have made a mistake while filing the ITR (Income Tax Return).

It is the return with which you do not have to attach any documents. ITR 1 form is an example of this type of return.

TDS mostly covers the advance tax payment. However, you might have to consider other sources of income as well. If the tax on income is Rs. 10,000 in a year, you are liable to pay Advance tax.