ITR 1 Form (also known as Sahaj) is one of the most popular form for filing Income Tax Returns because it applies to most of the Salaried Employees. However, it does not apply to all categories of Salaried Employees as some of the Salaried Employees are required to submit their returns in ITR Form 2 or in the newly introduced ITR Form 2A.
- Recommended Read: Which Income Tax Return Form should you use?
This article focuses on mainly on ITR 1 and queries related to ITR 1 like the category of taxpayers eligible/ non eligible to file ITR 1, Last Date for Filing ITR 1, Manner and Procedure of filing ITR 1, ITR Acknowledgement etc.
ITR 1 is the simplest Income Tax Return Forms as it is easy to furnish without any complications. However, if a salaried employee is not eligible to furnish ITR 1 Form, he should furnish his income tax return in ITR 2 Form or in the newly introduced ITR 2A.
Eligibility to use ITR 1 Form
All Individuals cannot use ITR 1 Form for filing their income tax returns and only those taxpayers can use this form whose income includes any of the following:-
1. Income from Salary/ Pension
If your employer has paid you any salary/pension which would be taxable under “Income from Salaries”, you can use this ITR 1 Form.
2. Income from 1 House Property
The law specifically states 1 house property. So in case you have income arising from more than 1 house property, you are not eligible to use this ITR Form 1.
Moreover, if you have loss arising under head Income from House Property, which has been brought forward from the previous financial year, you are not eligible to use ITR Form 1.
3. Income from Other Sources
If you have income arising from other sources like Interest Income, etc, you can use this form for submitting your annual tax returns.
However, this form cannot be used in case of income arising from winning from lottery or from income from race horses.
Moreover, if in case the Income of some other person like spouse, minor child etc is being clubbed with the Income of the taxpayer, this form can be used only if the income being clubbed falls into the above income categories.
Who cannot use this ITR Form 1?
The following class of Individuals have been specifically excluded from using this ITR Form 1. Therefore, taxpayers having income from any of the following sources are not eligible to use this form:-
- Income from more than 1 house property
- Income from winning from lottery or income from lottery
- Income under head capital gains (Recommended Read: Computation of Capital Gains Tax)
- Agricultural income in excess of Rs 5000
- Income from any Business or Profession
- Loss under head – other sources
- Person claiming relief of foreign tax paid under Section 90 or 90A or 91
- Any resident having any asset (including financial interest in an entity) located outside India or signing authority in an account located outside India
Due Date for filing ITR 1 Form
As taxpayers filing their returns in ITR 1 Form are not required to prepare accounts and get them audited, the due date for filing ITR 1 Form is 31st July of the next financial year for which the return is being filed.
Therefore, if ITR 1 Form is being filed for the financial year 2015-16, the due date of submitting ITR 1 Form would be 31st July 2016. The Due date would similarly be calculated for other years as well.
In case a taxpayer fails to furnish his return before 31st July 2016, he can file a Belated Return till 31st Mar 2016 but interest would be levied in such a case.
Manner of filing ITR 1 Form
The ITR 1 Form can be submitted to the govt by the taxpayer in any 1 of the following ways
- By furnishing a return in a physical paper form (Download ITR 1 PDF Form)
- By furnishing a bar coded return
- By furnishing the return electronically under digital signature
- By transmitting the data electronically and then thereafter submitting the verification of the return in Return Form ITR-V
From F/Y 2013-14 onwards, all taxpayers having income of more than Rs. 5 Lakhs have to mandatorily furnish their Income Tax Returns in electronic format i.e. either through mode (3) or (4) specified above.
Procedure for furnishing ITR 1 online
For the purpose of furnishing ITR Form 1, a taxpayer is first required to create an account on the income tax website. This is a one-time process and once the account has been created, the user can login to the same account every year.
After logging in, the user can either submit the details online or can download the ITR Java Utility software and then submit his return through this ITR Java Utility.
- Recommended Read: Procedure for e-filing Income Tax Returns online
Apart from the normal excel utility for online filing, the Income Tax Dept has also released a new Java utility with many new upgraded features like direct upload from the utility, better interface etc.
- ITR 1 Java based Utility for 2016
- ITR 1 Excel Utility for 2016
- ITR 1 PDF File for Manual Filing in 2016
ITR 1 Acknowledgment
In case you are filing the ITR 1 Form electronically, the Acknowledgement would be sent to your registered email id. Moreover, it can also be manually downloaded from the income tax website. The taxpayer is required to sign it and send it to the Income Tax Department’s CPC office in Bangalore.
- Recommended Read: Procedure for submitting ITR V Acknowledgement for returns filed online
In case you are filing the ITR 1 Form physically, the income tax department will issue an acknowledgement at the time of submission of the physical paper return