Overview:

ITR-1, commonly referred to as Sahaj, is a simplified income tax return form tailored for individual taxpayers in India with straightforward income sources. This form is designed to facilitate an easy and efficient filing process for those who meet specific criteria.

Eligibility:

ITR-1 is suitable for individuals who meet the following conditions:

- Income Sources:

• - Income from Salary or Pension: Any remuneration received from employment or pension payments.
• - Income from One House Property: Income from a single house property, excluding cases where there is a loss that needs to be carried forward to future years.
• - Income from Other Sources: Includes income such as interest from savings accounts, fixed deposits, family pension, and other similar sources.

- Income Limit:

• - The total income must not exceed ₹50 lakh during the financial year.

Exclusions:

ITR-1 cannot be used by individuals who:

- Hold a directorship in any company.

- Have invested in unlisted equity shares.

- Have agricultural income exceeding ₹5,000.

- Have income from more than one house property.

- Have income from winnings from lotteries or income from horse races.

- Have taxable capital gains.

- Have income from business or profession.

Prerequisites for Filing ITR-1:

Before filing ITR-1, ensure the following prerequisites are met:

- Registration:

- You must be a registered user on the e-Filing portal (https://www.incometaxindiaefiling.gov.in) with a valid user ID and password.

- PAN and Aadhaar:

- Your PAN (Permanent Account Number) should be active.

- Your PAN must be linked with Aadhaar.

- Bank Account:

- It is recommended to have a pre-validated bank account for faster processing of refunds.

- Mobile Number:

- A valid mobile number should be linked with your Aadhaar or the e-Filing portal for the purpose of e-Verification.

Steps to File ITR-1 Online:

1. Login to the e-Filing Portal:

   - Go to the e-Filing portal and log in using your user ID (PAN) and password.

2. Access the Income Tax Return Section:

   - On your dashboard, navigate to e-File > Income Tax Returns > File Income Tax Return.

3. Select the Appropriate Assessment Year:

   - Choose the assessment year for which you are filing the return (e.g., AY 2024-25 for income earned in FY 2023-24).

4. Select ITR-1 Form:

   - Choose ITR-1 (Sahaj) from the list of available forms.

5. Fill in the Required Details:

   - Enter your personal information, including name, address, and Aadhaar number.

   - Provide details of your income sources such as salary/pension, one house property, and other sources.

   - Include information about deductions claimed under Chapter VI-A (like 80C, 80D, etc.).

6. Review Pre-filled Data:

   - The portal may have pre-filled some information based on your Form 16, Form 26AS, and other sources. Review this data and make corrections if necessary.

7. Calculate Tax:

   - Verify the tax calculation based on the provided income and deductions.

8. Submit the Return:

   - Once all details are correctly filled and verified, submit the return.

   - Note that no physical documents need to be attached with ITR-1.

9. Verification of Return:

   - After submission, you need to verify your return. This can be done electronically through methods like Aadhaar OTP, EVC through bank account, demat account, or net banking, or by sending a signed physical copy of ITR-V to the CPC, Bengaluru.

Additional Tips for Filing Your Return with TaxQue:

1. Ensure Accurate Reporting:

   - Double-check all the income and deduction details to ensure they are correctly reported. Any discrepancy might lead to notices from the Income Tax Department.

2. Verify Pre-filled Details:

   - TaxQue often pre-fills certain information based on your previous filings and other data sources. Review this information thoroughly and make any necessary corrections.

3. Review Tax Computation:

   - Before final submission, ensure that the tax computed by TaxQue matches your own calculations. This helps in identifying any discrepancies early on.

4. Choose the Right Verification Method:

   - After filing your return, you need to verify it. TaxQue provides options for e-Verification through Aadhaar OTP, EVC via bank account, demat account, net banking, or the traditional method of sending a signed ITR-V to CPC Bengaluru. Select the method that is most convenient for you.

5. Keep Documents Handy:

   - While you don't need to attach documents with your ITR-1, keep all relevant documents like Form 16, interest certificates, and investment proofs handy. These may be required for reference or if the IT department requests them later.

6. Track Filing Status:

   - After submitting and verifying your return, regularly check the status of your filing on the TaxQue portal to ensure it has been successfully processed.

7. Stay Updated on Deadlines:

   - Be aware of the filing deadlines and any extensions announced by the Income Tax Department. This helps in timely filing and avoids penalties.

8. Seek Assistance if Needed:

   - If you encounter any issues or have queries during the filing process, use the support resources provided by TaxQue. Timely assistance can help resolve problems quickly and ensure accurate filing.

By following these tips, you can effectively utilize TaxQue for filing your ITR-1 and ensure a smooth, hassle-free tax return process.