ITR-1 Return Filing
ITR-1 Return Filing
ITR-1, also known as Sahaj, is the Income Tax Return (ITR) form for salaried individuals and pensioners with simple income sources. This form is meant for taxpayers earning up to ₹50 lakh annually from salary, pension, house property, and other income sources (excluding capital gains and business income).
📌 Who is Eligible for ITR-1 Filing?
✔️ Salaried Employees
✔️ Pensioners
✔️ Individuals with One House Property
✔️ Residents with Other Income (Interest, FD, etc.)
🚫 Who is NOT Eligible for ITR-1?
❌ Business Owners or Professionals
❌ Individuals with Capital Gains
❌ Income from More Than One House Property
❌ Agricultural Income Above ₹5,000
❌ NRIs (Non-Resident Indians)
Importance of ITR-1 Filing
✅ Legal Compliance – Avoid penalties and interest for non-filing.
✅ Claim Tax Refunds – Get back excess TDS deducted.
✅ Essential for Loans & Visas – Tax returns are required for approvals.
✅ Smooth Financial Planning – Maintain a clean financial record.
✅ Avoid Tax Notices – Stay compliant with tax regulations.
how we help
Great Support for Funding & Compliance
Documents Required for ITR-1 Filing
📌 PAN Card – For taxpayer identification.
📌 Aadhaar Card – Mandatory for filing.
📌 Form 16 – Issued by the employer.
📌 Bank Account Details – For tax refunds.
📌 Salary Slips – To verify income.
📌 TDS Certificates (Form 16A) – If applicable.
📌 Investment Proofs – For deductions under 80C, 80D, etc.
📌 Rent Receipts – If claiming HRA exemption.
Benefits of ITR-1 Filing
✅ Faster Tax Refunds – Avoid delays in getting refunds.
✅ Avoids Penalties – Late filing attracts fines up to ₹10,000.
✅ Improves Creditworthiness – Required for bank loans and credit cards.
✅ Hassle-Free Processing – Simplified online filing process.
✅ Allows Tax Deductions – Save money through deductions like 80C, 80D, and HRA.