File ITR-1 Sahaj Form:
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What is ITR?
Income Tax Return (ITR) is a form used to report your income and taxes to the Income Tax Department. It is mandatory for individuals earning above the basic exemption limit.
What is ITR-1 (Sahaj)?
ITR-1 (Sahaj) is the simplest ITR form applicable for resident individuals with income from salary, one house property, and other sources with a total income of up to ₹50 lakhs. This is the most commonly used form for income tax filing for salaried employees in India.
Who Can & Cannot File ITR-1?
Who Can File ITR-1?
Resident Individuals having total income up to ₹50 Lakhs from:
- Salary or Pension
- One House Property (excluding brought forward loss)
- Other Sources (Interest, Dividends, Family Pension, etc.)
- Agricultural Income up to ₹5,000
Who Cannot File ITR-1?
You cannot use ITR-1 if you have:
- Total Income exceeding ₹50 Lakhs
- Capital Gains (Stocks, Mutual Funds, Property)
- Foreign Assets or Foreign Income
- Income from Business or Profession
- More than One House Property
- Directorship in any Company
Structure of ITR Form 1:
A Comprehensive Overview
The ITR-1 form is divided into specific parts to capture all necessary details accurately:
| Part | Description |
|---|---|
| Part A | General Information (PAN, Aadhar, Address, Bank Details) |
| Part B | Gross Total Income (Salary, House Property, Other Sources) |
| Part C | Deductions and Taxable Total Income (80C, 80D, etc.) |
| Part D | Tax Computation and Tax Payments (TDS, Advance Tax) |
Types of Income Excluded
It is crucial to know what cannot be reported in ITR-1 to avoid defective notices:
- Lottery Winnings: Income from winning lotteries, crossword puzzles, etc.
- Race Horses: Income from owning and maintaining race horses.
- Capital Gains: Short-term or Long-term capital gains from sale of assets.
- Business Losses: Any loss under the head "Profits and Gains of Business".
- Deferred Tax: Tax on ESOPs received from eligible start-ups.
Documents & Details Required
Documents Required
- PAN Card & Aadhar Card (Linked)
- Form 16 (From Employer)
- Bank Statements (All Accounts)
- Interest Certificates (FD/Savings)
- Home Loan Certificate (If applicable)
- Investment Proofs (LIC, PPF, ELSS)
Required Details in ITR-1
- Employer Details (Name, TAN, Address)
- Salary Breakup (Basic, HRA, Allowances)
- House Property Details (Address, Tenant Info)
- Bank Account Details (IFSC, Account No.)
- TDS Details (Form 26AS Matching)
- Advance Tax & Self-Assessment Tax Challans
ITR-1 Due Date
For most individual taxpayers, the due date for filing ITR-1 is 31st July of the Assessment Year. However, if you are liable for tax audit, the date may extend to 31st October.
Filing early ensures faster processing of refunds and avoids last-minute technical glitches on the government portal.
Penalty for Late Filing
Missing the due date can attract penalties under Section 234F:
- Up to ₹5,000: If filed after 31st July but before 31st December.
- ₹1,000: If total income is less than ₹5 Lakhs.
- Interest: Additional interest under Section 234A for delay in tax payment.
- Loss Carry Forward: You cannot carry forward losses (except house property) if filed late.
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Your Approval
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Filing Done
We file the ITR and help you e-verify it via Aadhar OTP.
Common Questions
If you file the wrong form, the Income Tax Department may issue a 'Defective Return' notice under Section 139(9). You will then have to revise it within a specific time, causing unnecessary stress. Our experts ensure the correct form is used.
Yes, but you need to combine the salary income from both employers and ensure tax has been paid correctly. Doing this manually often leads to errors. We handle these calculations precisely.
Yes, linking Aadhar with PAN is mandatory for filing Income Tax Returns. If not linked, your PAN may become inoperative, leading to higher TDS deductions.
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