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How to file ITR-1 Sahaj form online for AY 2021-22: All you need to know

How to file ITR-1 Sahaj form online for AY 2021-22: All you need to know
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How to file ITR-1 Sahaj form online for AY 2021-22: All you need to know

How to file ITR-1 Sahaj form online for AY 2021-22: All you need to know

ITR-1 is also called Sahaj Form, it’s for folks with an earnings up to Rs. 50 lakhs. Verify right here the step-by-step information to file the ITR-1 Sahaj form online.

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To make tax compliance simpler, the earnings tax division has categorized taxpayers into many teams primarily based on earnings and its supply. So, you need to file your returns accordingly. ITR-1 is also called Sahaj Form, it’s for folks with an earnings up to Rs. 50 lakhs.

Sahaj stands for “Simple” in Hindi and any salaried individual together with pensioners, household pension holder and individual earn earnings by curiosity can use this form to file ITR.

All the paperwork enclosed with this Return Form shall be indifferent and returned to the individual submitting the return. In ITR-1, you are required to present normal data similar to title, PAN, and so forth.

Who’s Eligible to File ITR-1 Form:

  • An individual who has, earnings from Wage/Pension.
  • An individual who has, earnings from One Home Property (excluding circumstances the place loss is introduced ahead from earlier years).
  • An individual who has, earnings from Different Sources (excluding successful from the Lottery and Revenue from Race Horses).
  • Within the case of clubbed Revenue Tax Returns, the place a partner or a minor is included, this may be carried out provided that their earnings is proscribed to the above specs.

Construction of ITR-1 Form:

  • Half A: Private Particulars.
  • Half B: Gross Whole Revenue.
  • Half C: Deductions and Taxable Whole Revenue.
  • Half D: Tax Computation and Tax Standing.
  • Schedule IT: Particulars of Advance Tax and Self-Evaluation Tax Funds.
  • Schedule TDS1: Particulars of Tax Deducted at Supply from Wage (As per Form 16 issued by employer).
  • Schedule TDS2: Particulars of Tax Deducted at Supply from Revenue apart from Wage (As per Form 16A, issued by Deductor(s)).
  • Supplementary Schedules TDS1, TDS2, and IT.

How to file ITR-1 Sahaj Form:

You possibly can submit your ITR-1 Form both online or offline. From the Monetary 12 months 2013-14, all taxpayers incomes greater than Rs. 5 lakhs should furnish their Revenue Tax Returns electronically.

Offline:

  • By furnishing a return in a bodily paper form.
  • By furnishing a bar-coded return.
  • The Revenue Tax Division will situation you an acknowledgment on the time of submission of your bodily paper return.

Online/Electronically:

  • By furnishing the return electronically beneath digital signature.
  • By transmitting the info electronically after which submitting the verification of the return in Return Form ITR-V.

If you submit your ITR-1 Form electronically beneath digital signature, the acknowledgment shall be despatched to your registered electronic mail ID. You can even select to obtain it manually from the earnings tax web site. You’re then required to signal it and ship it to the Revenue Tax Division’s CPC workplace in Bangalore inside 120 days of e-filing.

Paperwork required for filling ITR-1 Form:

  • Form 16s, issued by all of your employers for the given Monetary 12 months.
  • Form 26AS – bear in mind to confirm that the TDS talked about in Form 16 matches the TDS in Half A of your Form 26AS.
  • If you haven’t been in a position to submit proof of sure exemptions or deductions (similar to HRA allowance or Part 80C or 80D deductions) to your employer on time, preserve these receipts useful to declare them in your earnings tax return straight.
  • PAN card.
  • Curiosity from checking account particulars – financial institution passbook or FD certificates.

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