ITR-1 Form or Sahaj Form Filing: What is ITR 1 Form?

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  • Last Updated on 6 February, 2023

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Sahaj Form (ITR-1 Form) as the name itself defines is the simplest form for furnishing income tax returns for individuals. Individuals who are resident individuals of India can furnish their return of Income Tax in this form if their income is up to Rs. 50 Lakhs and they derive such income from the following sources:
 
    1. Income from salary or pension
    2. Income from one house property
    3. Income from other sources

What When ITR-1 Form cannot be filed: 

  1. In case where income of resident individual exceeds from Rs. 50 Lakhs.
  2. In case where resident individual receives income from:
    • more than one house property,(Or there is brought forward loss or loss which is required to be carried forward)
    • winning from lottery,
    • horse races, (income or loss)
    • agricultural income exceeding Rs. 5,000/-,
    • capital gains,
    • business or profession, 
    • asset situated outside India or has signing authority in any account located outside India
  3. In case the status of an individual is “Residents, not ordinary residents (RNOR)” or “Non-residents (NR)”
  4.  In case a person wishes to claim relief under section 90, 90A, or 91, etc.
  5.  In case dividend income during the year exceeds 10 lakhs which is taxable u/s 115BBDA
  6.  If there is an unexplained income or investment or cash credit as referred to in sec 115BBE.
  7.  If Assessee has income which is to be apportioned as per section 5A, i.e., Portuguese Civil Code.
In all the above cases, ITR- 1 form is not applicable.

New ITR Forms for AY 2018-19: 

 
Certain clauses have been added/ modified in Form ITR-1 in comparison to last year. Major changes are:
 
1. New ITR- 1 Form in case of income from salary, requires furnishing of details relating to salary, allowances not exempt, perquisites value, profits in lieu of salary, and deductions under section 16. In simple words, the break-up of salary is required to be furnished in Form ITR- 1.
 
2. New ITR- 1 Form in case of income from house property, requires furnishing of the break-up of income from renting of house property that includes disclosure of gross rent received/ receivable, municipal taxes paid and net annual value arrived. Further, disclosure of standard deduction @ 30% (this will be calculated automatically) and interest on borrowed capital claimed as deduction under section 24 is also required to be furnished.
 
3. Reporting of information pertaining to the fee for late furnishing of return as per the provisions of section 234F that has been inserted in Income Tax Act, 1961 w.e.f. 1st April 2018. 

Particulars

Cases

Amount of Late Fee

Income < 5 Lacs

In all cases (if he is required to furnish return of income)

Rs. 1,000/-

Income ≥ 5 Lacs

If return filed on or before 31.12.2018 (but after due date)

Rs.5,000/-

In any other case

Rs.10,000/-

Provisions for furnishing return of Income in Form ITR-1 for AY 2018-19: 

1. E-filing of return is mandatory. However, in the case of a resident individual who is a super senior citizen, (i.e. individual at the age of 80 or more during the previous year) and in the case where the income of resident individual doesn’t exceed Rs. 5 Lakh (or no refund is due), the income tax return in Form ITR- 1 can be filed in physical/ paper form also.

2. For the purpose of verification of return of income in form ITR- 1, Digital Signature is not mandatory and the following options are also available for verification:      

    • e-verification through Aadhar OTP    
    • e-verification through EVC (Electronic Verification Code)      
    • e-verification through net banking if the bank account is linked with PAN number
    • physical verification by sending the signed ITR-V through post at CPC, Bengaluru

Author Bio: Radhika Daga is a CA Final student. Connect with her on Linkedin @www.linkedin.com/in/radhikadaga.  

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