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 Ludhiana

ITR 1 filing in Ludhiana is to be done by the individuals whose income is not more than Rs.50 Lakh in a financial year. Taxpayers filing ITR 1 in Ludhiana can opt for Existing as well as New Tax regime. The taxpayers can now choose between the old and the new tax regime. The decision has to be taken at the beginning of the financial year.

Income tax rates according for ITR 1 return filing in Ludhiana under the old tax regime are

For individuals up to the age of 60 years

Taxable Income	Income Tax Rate
Up to INR 2,50,000	Nil
Rs. 2,50,000- Rs. 5,00,000	5%
Rs. 5,00,000 – Rs. 10,00,000	20%
Above Rs.10,00,000	30%

For Individuals ageing between 60-80 years (Senior Citizen)

Taxable Income	Income Tax Rate
Up to INR 3,00,000	Nil
INR 3,00,000 - INR5,00,000	5%
INR 5,00,000 – INR 10,00,000	20%
Above INR 10,00,000	30%

For individuals above 80 years of age (Super Senior Citizen)

Taxable Income	Income Tax Rate
Up to INR 5,00,000	Nil
INR 5,00,000 – INR 10,00,000	20%
Above INR 10,00,000	30%

Under the new tax regime, the taxpayer has an option to choose either to file the ITR in Ludhiana at a lower interest rate under the New Tax Regime on a condition that they are forgoing certain permissible exemptions and deductions that are available under the current Income tax regime. Or pay taxes under the current tax regime and avail the rebates and the benefits.

The Income tax rates under the New Tax Regime for ITR 1 filing by individuals and HUFs is as follows:

Income Slab	New regime tax slab rate(Applicable for all individuals and HUF)
Up to INR 2,50,000	Nil
INR 2,50,000 - 3,00,000	5% (Tax rebate u/s 87 a is available)
INR 3,00,000 - 5,00,000	5% (Tax rebate u/s 87 a is available)
INR 5,00,000 - 7,50,000	10%
INR 7,50,000 - 10,00,000	15%
INR 10,00,000 - 12,50,000	20%
INR 12,50,000 - 15,00,000	25%
More than INR 15,00,000	30%

Conditions for Option New Tax Regime in Ludhiana

The taxpayer that is opting for the concessional rates in the new tax regimes will have to give up the exemptions and the deduction that can be availed in the existing old tax regime. In total there are 70 deductions and exemptions that are not allowed. Here we have listed some of them below:

Leave Travel Allowance (LTA)
House Rent Allowance (HRA)
Conveyance Allowance
Daily expenses in the course of employment
Relocation allowance
Helper allowance
Children education allowance
Other special allowances
Standard deduction on the Salary
Professional Tax
Interest on housing loans (Section 24)
Deduction under Chapter VI-A deduction ( 80C, 80D, 80 E and so on) (Except Section 80 CCD (2))

Itr 1 Sahaj Form In Ludhiana FAQ's

Yes, Form ITR 1 can be filed in Ludhiana in case an individual has a house loan.

ITR 1 form filing in Ludhiana is done for agricultural income if the income is not exceeding Rs. 50,000.

Yes, ITR 1 form filing in Ludhiana is an annexure less, there is no need to attach any documents such as Form 16 and Form 26 AS with the ITR 1 form.

While filing the ITR form in Ludhiana there is no requirement for attaching documents with Form ITR 1. But it is always advisable to retain the documents as the tax authorities may ask for the documents at any time.

Itr 1 Sahaj Form In Ludhiana

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Itr 1 Sahaj Form In Ludhiana

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