ITR 1 – Meaning, eligibility, details and filing of ITR Form-1
A brief guide to the ITR 1 Form
What is ITR-1?
The Income Tax Department has classified people into different ITR forms based on their income and source of income. Income Tax Return (ITR)-1, also known as Sahaj Form, is for persons with a yearly income of up to Rs 50 lakhs. You may easily file your taxes using the one-page ITR-1 form.
Who is eligible to file ITR-1?
- Salary/pension earnings
- Income from a single-house property (excluding circumstances where loss from previous years has been carried forward)
- Income from various other sources, except money, won in lotteries and earnings from racing horses.
- When you file taxes with your spouse or a minor, their income must meet the rules mentioned above to be included in the combined tax return.
What are the documents needed to file ITR?
The following documents are required to file the ITR-1 form:
- Form 16: Issued by all of your employers for the financial year.
- 26AS Form: Double-check that the TDS on Form 16 matches the TDS on Part A of your Form 26AS.
- Receipts: If you cannot provide documentation of certain exemptions or deductions (such as HRA allowances or Section 80C or 80D deductions) to your employer on time, keep these receipts on hand so you can claim them directly on your income tax return.
- PAN card
Bank investment certificates: Interest from bank account data – bank passbook or FD certificate.
Format of ITR-1 - PDF
Steps to file ITR Form 1
Follow the procedures below to file the form ITR1 online:
Step 1: Go to the following address: https://www.incometax.gov.in/iec/foportal/.
Step 2: Select the Assessment Year for which you wish to file your ITR.
Step 3: Next, choose how you wish to e-file your ITR.
There are three methods to file an ITR:
- Using Excel Utility.
- Using Java Utility.
- By online entry
Step 4: Using the Excel utility - First, you must create the JSON file using the Excel Utility :
- Download the ITR 1 Excel utility for the required AY.
- Then, fill out all of the required and appropriate fields.
- Then, validate the data input in all sheets by clicking on the “Validate” button in each.
- On the sheet, click the “Calculate Tax” button.
- Check your details. On the sheet, click the “JSON file” button.
- The generated “JSON file” should then be submitted to the income tax department
- Log in using the URL incometaxindiaefiling.gov.in.
- Enter your login credentials.
- Go to the e-File Menu. Choose “Income Tax Return” Put the “Assessment Year” to “2023-24”. Choose “ITR” as “ITR 1”
- Navigate and choose your valid “JSON file” generated through the Excel Utility
- Lastly, select the submit button.
Step 4: Using the Java Utility- Here are the steps for submitting an ITR using the Java utility:
- Download the Java utility from here after selecting the required AY.
- Install the utility in the necessary system and start entering the details.
- You can also download and use Pre-filed JSON from ITD at this stage
- Fill in all required and essential areas.
- Verify the information you provided by clicking the “Save” button on the Menu Bar.
- On the Menu Bar, click the “Submit” button.
- Enter your ITD Login credentials.
- Go to the e-File Menu. Select “Income Tax Return.” Select “Assessment Year” as “2023-24”. Select “ITR” as “ITR 1”
- Browse and then select your valid “JSON file”.
- Click the Submit button.
Step 4: Using online direct entry
- Log in to https://www.incometax.gov.in/iec/foportal/ to access the Income Tax e-filing portal.
- To access the e-filing portal, use your User ID (PAN) and ensure you see the “Please confirm your secure access” message. Then, enter your password and click “Continue“.
- Go to e-File-> Income Tax Returns-> File Income Tax Return.
- On the Income Tax Return Page:
- Select ‘Assessment Year‘
- Select Online in the Mode of Filing
- Click on Start Filing
- Select the Type of Assessee and click on “Continue.”
- Click on “Start New Filing.”
- Select from “Individuals/HUF/Others”
- Select ‘ITR Form’
- Click on Proceed with (ITR-1)
- Choose an item from “Are you filing an income tax return for any of the following reasons?”
- Click the Continue button.
- Read the instructions carefully and fill out all necessary and required fields on the Online ITR Form.
- Click “Proceed” once all tabs have been confirmed.
- Select “Preview return” from the drop-down Menu. Check the first check box and then click “Proceed to Preview.” The ITR form can be downloaded or printed.
Step 8: Click the “Proceed to validation” option. The error list will be presented; correct the problem so that there are no errors, and then click “Proceed to verification.”
Step 9: The e-verification process can be done via OTP received at the Aadhar register mobile number or through DSC.
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