ITR1 Sahaj Form is the one that has to be filed by salaried people for Income Tax Return. Any individual with an annual salary of less than Rs. 50 Lakhs can fill this form. In this blog, we will discuss the ITR1 Sahaj Form in detail. There are several other taxpayers group which need to fill another form to file for return but for salaried individuals, its ITR1 Sahaj Form.
Eligibility For Filing Form ITR1
The form needs to be filed by any individual with income less than or Rs. 50 Lakhs from the sources mentioned below:
- From Salary
- From One House Property
- From other sources excluding Lottery or Horse Races
Even in case you are filing clubbed income tax returns with a spouse, the limit will be the same.
So, that’s the people who can file Form ITR1 Sahaj, now let’s look at the people who are not eligible to file this form.
- An individual having income above Rs 50 lakh.
- An individual who is either a director in a company and has invested in unlisted equity shares.
- Residents not ordinarily resident (RNOR) and non-residents.
- Also, individuals who have earned income through the following :
- More than One House Property
- Lottery, Racehorses, Legal Gambling, etc.
- Taxable Capital Gains (Short term and Long term)
- Agricultural income exceeding Rs. 5,000
- Business
- Individual who is a Resident and has assets (including financial interest in any entity) outside India or signing authority in any account located outside India.
- Individual claiming relief of foreign tax paid or double taxation relief under section 90/90A/91.
How To Fill The Form?
Like any other Income Tax related form, this one can also be filed in two different ways i.e. Online & Offline.
The offline method is only for:
- An individual at the age of 80 years or more at any time during the previous year
- An individual or HUF whose income does not exceed Rs 5 lakhs and who has not claimed any refund in the return of income.
To file ITR1 online, there are two ways:
- Transmit data electronically and then submit the verification of ITR in the form of ITR-V to CPC.
- File the return online and verify the ITR-V through net banking/AADHAR OTP.
All the criteria mentioned above are for Financial Year 2019-20 as there were a few changes made in ITR1 for AY 2018-19 as well as AY 2019-20.
Note: AADHAR Card is Mandatory for filing ITR1 Sahaj form. It is mandatory that your AADHAR Card is linked to the PAN for filing this form.
