ITR 1 Sahaj Form Eligibility : Pay your income tax using this form. Before that know the details of this special form.
The end of March has come. After the old financial year, a new season begins. Businesses, offices, banks, government all get busy during this time. Along with this, another office of the central government is practically in a storm. Income Tax Department, or Income Tax Department. When hearing this name, many people get cold body, hands and feet. Even today many people do not file their income tax on time. And if that doesn’t happen, the raid starts. In addition to individuals, office-bearers, revenue has to be paid to the center. And this is when the income tax department gets busy.
Common people also start running away. There are a lot of questions about how to file income tax returns. Everyone has a fixed date for filing this income tax. The government has to pay the fixed price. Along with that, the important thing is the income tax return. The person paying tax, the amount of property, land, etc., has to be written in a form and sent with proof to the Income Tax Department. Then the details of the entire information are verified from the office. If the taxpayer pays more income tax than the prescribed value, the excess amount is refunded to him. And if less, it is summoned once more.
There are total seven forms for filing this income tax return. They are used for different taxpayers. However, the most commonly used form in India is Income Tax Return 1 or ITR 1 form. In one word it is also called simple form (Sahaj Form). Pay your income tax before the deadline using this form. Before that know the details of this special form.
Who can fill ITR 1 Sahaj form?
According to Income Tax Department of India, those whose income will be above 50 lakh rupees in the entire financial year can fill this ITR 1 Sahaj form. What are these sources of income?
1) Income from job, house
2) Earned money from cultivation (maximum Rs. 5000)
3) Interest from savings account
4) Interest earned on deposits in banks, post offices or co-operative societies
5) Interest from income tax returns
6) Family pension
7) Any other interest income if any
8) Income of husband or wife
Who can not file ITR 1 Sahaj?
1) Those who are NRIs, those who do not have Indian citizenship
2) Whose total income is more than 50 lakh rupees in the entire financial year
3) Income from farming is more than 5000 rupees
4) Those who earn from lottery, horse racing or any legal gambling
5) Those who are fully engaged in business
6) A person holding the position of director of a company
7) Those who have property more than a house or land
8) Those who have tax exemption as per Income Tax Act 194N (194N).
What documents do you need to file ITR 1 Sahaj form?
Income tax return form must be filled to pay income tax. And not only that, but various important documents will be required as well. Depending on that, the amount of income tax will be verified. What will it take? Form No. 16, house rent slip (if rent), receipt of payment of premium investment (if any). But other documents like investment deed, paper, TDS certificate etc. are not required. But when everything is verified from the Income Tax Department, the responsible officers can see them.
How to file ITR 1 Sahaj form online?
Now is the era of online technology. Almost all work is done through internet. You can easily fill the form with all the documents on the e-filing portal of Income Tax Department. However, some additional information is required. For example,
1) Personal information (name, address etc.)
2) Amount of total income
3) Overall cost
4) How much tax has been paid