ITR-1 Sahaj – Know the Basics
If you are an Indian resident and are employed or own a business it is important for you to file ITR-1 Sahaj form. The ITR-1 Sahaj form is an important income tax return form Indian citizens should file with the income tax department. Citizens are required to file the returns with the income tax department at the end of the financial year.
The ITR- 1 Sahaj form is issued by the income tax department of India. In order to file the tax returns several rules and obligations have to be met. These rules and obligations have been laid down by the government of India.
ITR -1 Sahaj form is processed by Income tax department of India only if the forms have been filed by eligible assesses. Depending on the source of your income you will need to obtain and submit particular forms that are appropriate to your income source.
Note: Sahaj form has newly replaced the Saral income tax return form. The Sahaj form uses modern technology and offers tax payers an easy tax returns filing form.
Who can submit ITR-1 Sahaj?
You are eligible to submit ITR-1 Sahaj form only if you have earned you income for the financial year
- By mean of a salary
- By means of a pension
- BY means of property – this is applicable only if the losses have been brought forward from the earlier years
- By means of legal gambling and other sources (, racehorses, lottery are excluded)
Submission of ITR-1 Sahaj
ITR- Sahaj form can be submitted in person at any income tax returns office or through the employer with whom you work. Once you make the form submission you can obtain an acknowledgement receipt. If you are using an electronic filing method then you will need to obtain digital signature and upload the form online.