ITR-1 Return Filing

Income Tax Return(ITR) 1 Filling Form

ITR 1 or Sahaj Form is an Income Tax return form for salaried individuals (salary/pension/family pension and interest income). It should be filed every financial year to pay the accurate tax on the per-year income. It can be filed either online or offline mode.

The Income Tax 1961, states that an individual who falls under the purview tax act has to pay the tax every financial year. The ITR-1 is for the person with an income up to Rs. 50 lakh.

To ease the tax compliance process, the government has divided taxpayers into different categories based on their income and its source. Each category can check out all the required details to file the Sahaj Form.
Individuals who have an income of more than 50 Lakh & one property, director of any company, or has an investment in different assets outside India cannot file ITR 1 or Sahaj form as per the guidelines.

How can Form ITR-1 be filed?

Form ITR 1 can be filled both online and offline

Online Mode: The taxpayer can pay the tax online by logging into the Income Tax online portal. Either you can click on the “prepare and submit online” option or upload the XML.

Offline mode:The offline mode includes the submission of ITR 1 in paper form. A taxpayer can post all the required documents to the CPC Department, Bangalore. Verification of the completion of filing Income Tax return can be done in two ways

  • On online submission, fill all the details and e-verify the return using EVC via Demat Account/Bank Account/Aadhar OTP or Net Banking
  • Or after receiving the successful submission acknowledgement, download and print it. Post the printed acknowledgement to the CPC Department, Bangalore.

Penalty Fees, Build Financial Documents and Claim Tax Refunds

Form 16 A

Form 16 A is the tax deduction certification allotted by the tax deductor including details like name of the employee, employer, amount of TDS, nature of Payment, deposited TDS with IT Payment. A taxpayer should have this certificate as proof of tax payments every year. It is issued every year to the taxpayer.

Form 26AS

Form 26 AS is an annual statement that includes all the tax deduction information. It is issued by the government to the taxpayer as per section 203AA. A taxpayer can access this form via the e-filing tax portal of the Tax Department to check details like a refund, tax deduction amount, and more.

Who is Eligible to File ITR 1 for Fy 2020-21?

Who can file Form ITR-1?

ITR-1 Sahaj is filed by an individual who has income up to 50 Lakh per year from the following sources :

  • Wages/ Advance Salary
  • Pension/Annuity
  • Leave Encashment
  • Fee, prerequisites, commission, profits besides the salary
  • Annual accretion and transferred balance in provident fund
  • Central Government Contribution or an employer contribution to Pension account
  • Income from One House Property
  • Agricultural income (up to Rs.5000)
  • Others

Documents required for ITR – 1 form

What documents are required to file ITR -1 Sahaj form?

Documents one should keep in hand while filling the ITR-1 Sahaj form:

  • Form 16
  • Salary Slips
  • Interest Certificates from Post Offices and Banks
  • Form 16A/16B/16C
  • Tax saving investment proof
  • Form 26AS
  • Home Loan Statement from the NBFC/Bank
  • Deductions under Section 80D to 80 U
  • Capital Gains

The income tax rate under the Existing and New tax regime

Taxpayers have the freedom to choose an old or new tax regime as per their requirement and it should be done at the time of filling the ITR.

For Individuals up to the age of 60 years

Taxable Income Income Tax Rate
Up to INR 2,50,000 Nil
INR 2,50,000 – INR5,00,000 5%
INR 5,00,000 – INR 10,00,000 20%
Above INR 10,00,000 30%

For Individual aged between 60-80 years (Senior Citizen)

Taxable Income Income Tax Rate
Up to INR 3,00,000 Nil
INR 3,00,000 – INR5,00,000 5%
INR 5,00,000 – INR 10,00,000 20%
Above INR 10,00,000 30%

For Individual above the age of 80 years

Taxable Income Income Tax Rate
Up to INR 5,00,000 Nil
INR 5,00,000 – INR 10,00,000 20%
Above INR 10,00,000 30%

The income tax rates under the new regime applicable for all individuals and HUF are as follows:

Income Slab New regime tax slab rate
(Applicable for all individuals and HUF)
Up to INR 2,50,000 NIL
INR 2,50,000 – 3,00,000 5% (Tax rebate u/s 87 a is available)
INR 3,00,000 – 5,00,000
INR 5,00,000 – 7,50,000 10%
INR 7,50,000 – 10,00,000 15%
INR 10,00,000 – 12,50,000 20%
INR 12,50,000 – 15,00,000 25%
More than INR 15,00,000 30%

Conditions or opting New regime

The taxpayer opting for concessional rates in the new tax regimes will have to forgo exemptions and deductions available in the existing old tax regime. In total there are 70 deduction and exemptions that are not allowed out of which the most commonly used are listed below:

List of common exemptions and deductions not allowed under the new tax regime.

  • Leave Travel Allowance (LTA)
  • House Rent Allowance (HRA)
  • Conveyance allowance
  • Daily expenses in the course of employment
  • Relocation allowance
  • Helper allowance
  • Children education allowance
  • Other special allowances [Section 10(14)]
  • Standard deduction on salary


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