ITR1 Sahaj Form

Last Updated on Sep 6, 2017

ITR1 Sahaj form is the simplest form among all the forms for filing income tax return. Therefore, the form is named ‘Sahaj.’

Who is eligible to file ITR 1 for AY 2017-18?

ITR 1 Sahaj (Form 1) is a simplified one-page form for individuals with income up to Rs.50 lakhs. The form will apply to you if, your income includes the following:

  • Income from salary/pension; or
  • Income from one house property (excluding cases, where loss is brought forward from previous years); or
  • Income from other sources like interest income, etc.

In case, where the income of another person like spouse, minor child, etc. is to be clubbed with the income of the assessee, this return form can be used only if the income being clubbed falls into the above income categories.

Who is not eligible to file ITR 1 for AY 2017-18?

If you have income above Rs.50 lakhs, then you cannot file ITR 1. The form will not find applicability if, your income includes the following:

  • Income from more than one house property; or
  • Income from winnings from lottery or income from race horses; or
  • Dividend income taxable under section 115BBDA; or
  • Income of the nature referred to in section 115BBE; or
  • Income under the head ‘Capital Gains’ e.g., short-term capital gains or long-term capital gains from sale of house, plot, shares etc.; or
  • Agricultural income exceeding Rs.5,000; or
  • Income from Business or Profession; or
  • Loss under the head ‘Income from other sources’; or
  • Any resident having any asset (including financial interest in any entity) located outside India or signing authority in any account located outside India; or
  • Person claiming relief under section 90 and/or 91; or
  • Any resident having income from any source outside India.

Structure of ITR 1 form

The simplified structure of ITR 1 form includes the following sections:

Part A – General Information

In this section you are required to fill your personal details like name, sex, age, residential status, address, contact number, etc.



Part B – Gross Total Income

Here you can fill in details of income from salary/pension as mentioned in Form 16/TDS certificate issued by your employer. If there was more than one employer during the year then give the details in respect of total salaries received from various employers. If you have any interest income or rental income or loss (on account of housing loan interest) from a single house property then you can fill it here. In case of loss, use ITR 2.



Part C – Deductions and taxable total income

In this part one needs to fill all the relevant details of your tax saving investment or expenses eligible for tax deductions and total taxable income after calculation.



Part D – Computation of Tax Payable

You have to now club Advance tax, Self-assessment Tax, TDS, TCS under ‘Total Tax Paid.’ You also need to enter details of all exempt income, e.g., dividend income, agricultural income, etc.



Part E – Other Information

Here, you are required to give the details of all the savings and current accounts held by you at any time during the previous year (excluding dormant accounts not operational for more than 3 years). You have to submit the details of cash deposited in any account other than the current and savings account (viz. loan accounts, etc. However, details of cash deposited are to be provided, if the aggregate amount of cash deposited during the period from 9th November, 2016 to 30th December, 2016 is Rs.2 lakhs or more.



Schedule IT – Details of Advance tax and Self-assessment Tax payments

If you have paid any advance tax or some self-assessment tax then enter the details viz. BSR code of the bank through which the payment was made, date of payment, serial number of the challan and amount of the taxes paid against that challan.



Schedule TDS – Details of TDS/TCS

You have to give the details as per Form 16 issued by the employer/employers in respect of salary income. You have to mention the details as per Form 16A issued by a person in respect of interest income and other sources of income. Also, furnish the details of TCS as per Form 27D issued by the tax collector.



Verification

In the verification section, you have to fill the date and sign in the space given. The Income Tax Department will not accept your return if there is no valid signature.



Annexure-less Return Form

You must not attach any document (including TDS certificate) to this return form. If you enclose such documents with this return form, then it will be detached and returned to you.

How to file ITR 1 form?


Offline/physical form

People, who are over 80 years of age or individual and HUF with total income less than Rs.5 lakhs and no claim of refund in the return of income, have the option to file a tax return in paper form. Only one copy of the return form is required to be filed. You will receive an acknowledgement from the Income Tax Department after submission of your physical paper return; after that acknowledgement/ITR-V should be duly filled.

Online form

You will have to fill and submit the return form online. Once you e-file your tax return, ITR-V will be generated and sent to you over your email. You need to print and send ITR-V to CPC, Bengaluru, (you will have to print out two copies of Form ITR-V. One copy of ITR-V, duly signed by you, has to be sent by post to – CPC office, Bengaluru. The other copy should be retained by you for your record) or e-verify the ITR-V through net banking/aadhaar/OTP/EVC (if you take the online route and submit your return form electronically , then you will receive the acknowledgement on your registered email-id).

How do you send your ITR-V to the CPC Office?

To know how to send ITR-V, click on the below link :
https://www.hrblock.in/guides/how-to-send-itrv-to-cpc-guide.aspx

Changes made in the ITR 1 AY 2017-18

Changes in ITR 1 Details
Mandatory Quoting of Aadhaar Number As per section 139AA, taxpayers must quote Adhaar number or Adhaar enrolment number while filing ITR
Disclosure of cash deposited during demonetization If you have deposited Rs.2 lakhs or more then, you need to report cash deposited by you in all the bank accounts during the period from 9th November, 2016 to 30th December, 2016
Disclosure of all bank accounts Details of all savings and current accounts except dormant (not operational for more than 3 years) accounts
Simplified one page ITR Sahaj (Form 1) for salaried class
  1. The govt. has removed columns that are not used frequently by taxpayers.
  2. But, retained deductions column often used by taxpayers under section 80C, 80D, 80G and 80TTA. To claim deduction under another provision of chapter VI-A, you can mention that section in the column titled as ‘Any Other.’
  3. Schedules of TDS and TCS have been merged in one.
  4. Addition of a new column to report dividend income as well as long-term capital gains exempt under Section 10(34) and Section 10(38) respectively.
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