ITR-1 Sahaj is an income tax return form designed for individual taxpayers in India with a total income of up to Rs. 50 lakhs. It simplifies the process of filing income tax returns.

Who can file ITR Sahaj

Resident individuals in India whose income is below Rs. Fifty lakhs are earned from sources like Salary, Single House Property, or Other Sources, which can file ITR Sahaj.

Can ITR-1 be filed by Non-Resident Indians (NRIs)?

No, ITR-1 is specifically for resident individuals. NRIs have their own designated forms for tax filing.

What is the due date for filing ITR Sahaj?

The due date for filing ITR-1 Sahaj is typically July 31st of each assessment year. However, this date may vary, so checking for the latest deadline is essential.

Are there any penalties for late ITR 1 filing?

Yes, late ITR 1 filing can result in penalties ranging from Rs. 1,000 to Rs. 5,000, depending on your total income. Additional interest may also be charged on outstanding tax liabilities.

Is ITR 1 an annexure less form?

The ITR 1 form is an annexure-less return; there is no need to attach any documents such as Form 16 or Form 26 AS with the ITR 1 form.

Can I claim deductions in ITR-1 Sahaj?

You can claim deductions under various sections like 80C, 80D, 80U, and 80G in ITR-1 Sahaj, provided you meet the eligibility criteria.

Can I file ITR-1 Sahaj if I have more than one house property?

No, if you have income from more than one house property, you cannot use ITR-1 Sahaj. You would need to use a different ITR form.

Is it mandatory to e-file ITR-1 Sahaj, or can I file it physically?

E-filing is mandatory for individuals with over Rs. 5 lakhs. However, its recommended for everyone as it simplifies the process and ensures faster processing.

Can I file ITR-1 if I have taxable capital gains?

No, if you have taxable capital gains, whether short-term or long-term, you cannot use ITR-1 Sahaj.

What happens if I do not file my ITR-1 Sahaj on time?

Late filing may lead to penalties, additional interest on tax dues, and the loss of certain deductions and exemptions. In severe cases, it can result in prosecution procedures.

How do I calculate my tax liability in ITR-1?

You can calculate your tax liability in ITR-1 by providing income details, deductions, and exemptions. The form will automatically calculate the tax payable.

Can I file ITR-1 if I have business income?

No, ITR-1 Sahaj is not suitable for individuals with business income. You must use a different ITR form, such as ITR-3 or ITR-4.

Can I file ITR-1 if I received income from lottery winnings or gambling?

No, income from activities like lottery winnings or gambling is not eligible for ITR-1 Sahaj. You would need to use a different form.

Can I claim a refund of excess taxes paid through ITR-1?

You can claim a refund of excess taxes paid by providing your bank account details in ITR-1 Sahaj.

Is Aadhaar linking mandatory for filing ITR-1?

While not mandatory, linking your Aadhaar can simplify the e-filing process and ensure quicker return processing.

Can I file ITR-1 Sahaj if I have foreign income?

If you have foreign income or assets, ITR-1 Sahaj may not be suitable. You may need to use a different ITR form, such as ITR-2.

Can I file ITR-1 if I am an individual serving as a Director in a company?

No, if you are serving as a Director in a company, you cannot use ITR-1 Sahaj. You would need to use a different form.

Can I revise my ITR-1 Sahaj after filing it?

You can revise your ITR-1 within the specified time frame if you discover any errors or omissions in your original filing.

Itr 1 Sahaj Form In Arunachal Pradesh

Income Tax 1961 states that a person falling under the purview of the Tax Act has to pay tax on the income that is earned in a particular financial year. An individual, partnership, Hindu Undivided Family, or any other business entity can be assesses.

Who can file ITR 1 Return filing in Arunachal pradesh?

ITR 1 return filing in Arunachal pradesh is to be done by individuals whose income is not more than Rs.50 lakh from the following sources in a financial year.

Salaried person - Salary is the remuneration or consideration that a person receives for the services he or she has to render under an employment contract. The Income Tax Act,1961 has the following under the salary income.

Wages
Pension
Annuity
Advance Salary Paid
Leave encashment
Fees, Prerequisites, commission, profits
Transferred balance in recognized provident fund
Annual accretion to the recognized provident fund
Central Government contribution or the employer contribution to the Pension account as it is mentioned in Section 80 CCD of the Income Tax Act

One house property- In case if the Taxpayer is the owner of the property from which he or she is earning rent, then the rent becomes taxable. If the Taxpayer is using the property to run some business or profession then the same is taxable under “Income from business or profession” head.

Other sources(Does include income earned from winning lottery or racehorses)

Agricultural Income (up to Rs.5000)

How IndiaFilings help you in filing the ITR 1 Returns in Arunachal pradesh?

IndiaFilings can help you in ITR 1 return filing in Arunachal pradesh in both an online and offline manner.

Online Manner: We make online ITR 1 filing in Arunachal pradesh wherein we log into the portal and submit the returns on your behalf. Similarly, there is another option of submitting the income returns by uploading XML.

Offline Mode: It involves the submission of ITR 1 in paper form via post to the CPC department, Bangalore. The super senior citizens (80 years and above) are exempted from online filing of the Income-tax return.

What documents are required for ITR 1 return filing in Arunachal pradesh?

For ITR 1 Form filing in Arunachal pradesh the following documents are required:

Form 16
Salary slips
Interest certificates from the post offices and the banks
Form 16 A/ 16B/ 16C
Form 26AS
Tax savings-investment proof
Deductions under the Section 80D and 80 U
Home loan statement from the specific NBFC or the Bank
Capital gains

Itr 1 Sahaj Form In Arunachal Pradesh FAQ's

ITR filing can be filed by an individual, a partnership, a HUF, and any other business entity. ITR is to be filed by the people whose income is exceeding Rs. 50 lakhs.

ITR 1 can be filed both offline as well as online in Arunachal pradesh. The online form can be filed on the Income-tax portal.

Super senior citizen that is citizens of 80 years and above are exempted from online filing of ITR 1 form in Arunachal pradesh.

For Filing ITR 1 in Arunachal pradesh documents like Form 16, profits and accounts, balance sheets, investments evidence should be attached with the ITR 1 Form.

Itr 1 Sahaj Form In Arunachal Pradesh

Basic

Itr 1 Sahaj Form In Arunachal Pradesh

Related Guides

Itr 1 Sahaj Form In Arunachal Pradesh FAQ's

Other Services

Popular Services

Popular Searches