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Here you will find the complete detail regarding ITR 1 Form in a very simple English. You can ask us any doubt related to ITR 1 through comment form given below.
ITR 1 is a from to file income tax return who have the following income up to Rs. 50 Lakhs. ITR 1 form is also known as Sahaj Form.
- Income From Salary/Pension
- Income from one house property
- Income from other sources
The last date to file salary income tax return for A.Y. 2018-19 is 31st July, 2018 as per the date mentioned in the Income Tax Obligation Calendar for A.Y.2018-19.
The links to download ITR 1 for A.Y. 2018-19 are given below.
Keep in Mind: The rules of penal interest and penalty of late filing of income tax returns has changed w.e.f.01-04-2018 – Check Here
So don’t do any unnecessary delay to file ITR-1 even you can file today as Income Tax department has released the utility for excel and java.
Big Changes in ITR 1 for A.Y. 2018-19
- Now w.e.f 2018-19 ITR 1 is only available for Resident Individuals not for Residents Not Ordinarily Residents.
- You can not file ITR 1 if you have income above Rs.50 lakh from salaries, house property or any other source income.
- New columns under head salaries
- New columns under head house property
- New column for TDS made on rent.
Changes in ITR 1 for A.Y. 2017-18
- Now Aadhar Number is mandatory to enter in ITR-1 while filling income tax return. If you have not applied aadhar card yet then apply it and enter enrolment number. w.e.f 1-7-2017
- If you deposited Rs 2 lakh or more from 9th November 2016 to 30th December 2016 then you must fill the column of cash deposited during the demonetization period.
- Now, you should fill all your saving and current bank account detail in ITR-1 operated during previous year.
What is ITR-1
- The form is also known as Sahaj Form. So you don’t need to confuse over it. The form is for the assesee who have salary income during the Financial year 2017-18. There are other ITR forms like ITR-2, 3,4,5,6,7. But these forms are used for other incomes.
- So you have to ready your documents to file your Salary Income Tax return as per the instructions given in Form ITR-1. Income Tax Department has issued new form to file income tax return for A.Y. 2018-19 including ITR-1 along with excel utility software to create XML format.
- The XML format is only format which can be uploaded to the server of income tax department. No other means or way to upload or file income tax return.
- So you can download the excel utility software to file ITR-1 online or PDF, Excel format to file offline income tax return.
- We have also given the important information for the assesee to help them to file ITR-1 easily.
Which Incomes includes in ITR-1 Form (Sahaj Form)?
The persons who have the following income or receipts should use ITR-1 form.
- Salary/Pension or
- 1 house property income
- Other Sources Income
- Clubbing of Income from above heads
Why I download ITR-1 Form?
The assesee should download the ITR-1 form to file income tax return online for offline. We will talk only about efiling of ITR-1 Form. There are two ways to efile ITR-1 Form.
1) Prepare Return Offline: Download ITR-1 and fill all the complete detail then click on to prepare XML. It will make your file in XML format which should be need to uploaded on the server of income tax department.
2) Prepare ITR-1 XML file through any software.
You can download ITR-1 form from the links given below.
Can I File ITR-1 Offline?
The following persons have option to file ITR-1 offline. If you are not in the following persons then you must file your Income Tax Return in ITR-1 online.
- Individuals whose age is 80 years or more.
- Individuals and HUF whose income does not exceed 5 lakhs and are not going to claim any income tax refund.
For more information visit: Which Way I should File Income Tax Return? Online, Offline or by TRP?
How to fill ITR-1 Form?
|Step 1||Download ITR-1 Excel Utility|
|Step 2||Fill Income detail worksheet|
|Step 3||Fill TDS detail worksheet|
|Step 4||Fill all TCS detail worksheet|
|Step 5||Fill taxes paid and verification worksheet|
|Step 6||Fill 80G donation detail worksheet|
|Step 7||After filling all detail click on validate|
|Step 8||After validation click on Generate XML|
|Step 9||After XML generation, you are ready to file ITR-1|
How to e-file ITR-1 Form?
|Step 1||Visit here -> http://incometaxindiaefiling.gov.in/eFiling/|
|Step 2||If you already registered then login|
|Step 3||If you are not registered then click on register yourself|
|Step 4||After login click on e-file|
|Step 5||Then select assessment year and select ITR-1 here|
|Step 6||Browse your xml file as generated above|
|Step 7||Select digitally sign as Yes (if you have digital signature), if Not then select No|
|Step 8||Click on Submit button|
|Step 9||System will generate ITR-V, Print it|
|Step 10||Send ITR-V to the address given in ITR-V|
|Step 11||E-verify your return – Check here how to e-verify Income Tax Return|
Download ITR 1 Form (A.Y. 2018-19)
FAQ on ITR 1
Q. I have some unexplained income. Whether I can choose ITR-1 to file my income-tax return?
Taxpayers having unexplained income cannot opt for ITR-1 Sahaj. You will have to file ITR-2 or ITR-3 or ITR-4 on basis of criteria given in FAQ No. 1.
Q. I have received dividend income of Rs. 15 lakhs from an Indian Company. Whether I can choose ITR-1 to file my income tax return?
Taxpayers who have received dividend income above Rs. 10 lakhs during the relevant previous year cannot opt for ITR-1 Sahaj. You will have to file ITR-2 or ITR-3 or ITR-4 on basis of criteria given in FAQ No. 1.
Q. Whether all taxpayers who are earning income only from salary can choose ITR-1 for filing income-tax returns?
Yes, all taxpayers who are earning income only from salary can choose ITR-1 for filing tax returns. However, salaried taxpayers cannot choose ITR-1 in following cases:
- His salary income exceeds Rs. 50 lakhs
- His salary income is earned from outside India
- He is Non-resident or Not-Ordinarily Resident in India
- He has any assets located outside India
He has signing authority in any account located outside India.
Q. Whether individuals are required to mention details of assets and liabilities in ITR 1 Sahaj?
Individuals/HUFs are required to furnish details of assets and liabilities only when their income exceeds Rs. 50 lakhs. The Schedule AL wherein the details of assets and liabilities are to be furnished is available only in ITR-2, ITR-3 and ITR-4. Thus, the individual or HUF who has to report the details of assets and liabilities has to opt for filing of return in ITR 2, ITR 3 or ITR 4 on basis of criteria given in FAQ No. 1.
Q. My income is Rs 60 lakhs. What type of details of assets and liabilities I need to mention in income-tax return?
During 2016, the Govt. had introduced new Schedule AL in income-tax returns requiring individuals/HUFs to declare the value of assets and liabilities if their total income exceeds Rs. 50 lakhs. If taxpayer is required to provide information in this Schedule, he shall provide the details of cost of immovable property, jewellery, vehicles, shares, bank and cash balance, etc. Further, taxpayer is also required to disclose address of immovable property and description of movable assets.
Useful Articles to Help You Filing ITR-1
- Income Tax Slab – A.Y. 2018-19 | A.Y. 2017-18 | 2016-17 and Previous Years
- 9 Easy Steps to Calculate Your Tax Liability
- Basics to Know About Income Tax Return for Salaried Persons
- LIC Tax Deductions & Benefits
- Deductions From Salary: Check All Salary Deductions
- Deduction 80E: Interest on Loan Taken for Higher Education
- Deduction u/s 80C
- Deduction of Home Loan