ITR-1

ITR-1 (Sahaj) is an Income Tax Return form designed for eligible individual taxpayers having simple sources of income. It is generally suitable for taxpayers earning income from salary or pension, one house property, and other specified sources, subject to the applicable conditions for the relevant Assessment Year. - Salary/Pension Income – Report income earned from salary or pension. - One House Property – Applicable for income from one house property, subject to prescribed conditions. - Other Sources – Includes eligible income such as interest and other permitted sources. - Agricultural Income – Agricultural income up to ₹5,000 can be reported. - Income Limit – Generally applicable where total income does not exceed ₹50 lakh. - Eligible Taxpayer – Generally applicable to eligible resident individuals. - Deductions – Eligible deductions under the Income-tax Act can be claimed while filing the return. - TDS/TCS Details – Tax deducted or collected during the year can be reported and matched with the available tax records. - Tax Calculation – The return calculates the applicable tax liability after considering eligible income, deductions and taxes already paid. - Refund – Excess tax paid or deducted can be claimed as a refund, subject to eligibility. - Easy Online Filing – ITR-1 can be filed electronically through the Income Tax e-Filing portal. - Not for Business/Profession – Taxpayers having business or professional income generally need to use the applicable ITR form other than ITR-1. Eligibility Conditions – ITR-1 should be used only when all prescribed eligibility conditions are satisfied for the relevant Assessment Year. Professional Assistance – Proper selection of the ITR form and accurate reporting of income, deductions and taxes can help ensure compliant return filing.