Income Tax Return (ITR) filing: Are you planning to file ITR 1 form? here's how to do it
Individuals earning income up to Rs 50 lakh are supposed to file ITR 1 form. Other ITR forms will be available shortly.

Income tax returns (ITR) filing: The Income-Tax department has opened an e-filing window for income tax return (ITR) for assessment year 2018-19 on its website for salaried employees. For Assessment Year, a one page simplified ITR Form-1(Sahaj) has been notified, and it can be filed by an individual who is resident other than not ordinarily resident, having income up to Rs 50 lakh, and who is receiving income from salary, one house property/other income (interest etc).
Earlier ITR-1 form was applicable for both residents, residents not ordinarily resident (RNOR) and also non-residents. Now, this form is made available only for resident individuals. Earlier, an individual had to show his salary break-up in Form 16, which has been changed and brought under the ambit of ITR-1 form. Apart from this, the revised ITR-1 form also has requirement to furnish a break up of Income under House Property which was earlier mentioned in ITR -2 and other forms.
Here’s what you need to know about ITR form 1
This form is simplified in one page for individuals having income upto Rs 50 lakhs from sources like Income from Salary/Pension, Income from One House Property and Income from Other Sources.
Who cannot file
Individuals having income from sources like more than one House Property, Lottery, Racehorses, Legal Gambling etc., taxable capital gains (Short term and Long term), agricultural income exceeding Rs 5,000, Business and Profession.
Also, if an Individual who is a resident and has assets (including financial interest in any entity) outside India or signing authority in any account located outside India cannot file ITR through it.
Even individual claiming relief of foreign tax paid or double taxation relief under section 90/90A/91.
Structure of ITR-1 form
Part A – General Information
Part B – Gross total Income
Part C – Deductions and taxable total income
Part D – Computation of Tax Payable
Part E – Other Information
How to file
Step 1. Login to e-filing website with User ID, Password, Date of Birth /Date of Incorporation and Captcha.
Step 2. Go to e-File and click on "Prepare and Submit ITR Online".
Step 3. Select the Income Tax Return Form ITR 1/ITR 4S and the Assessment Year.
Step 4. Fill in the details and click the "Submit" button.
Step 5. Upload Digital Signature Certificate (DSC), if applicable. One needs to ensure the DSC is registered with e-Filing.
Step 6. Click on "Submit" button.
Step 7. On successful submission, ITR-V would be displayed (if DSC is not used). Click on the link and download the ITR-V, which will also be sent to the registered email. If ITR is uploaded with DSC, the Return Filing process is complete.
File ITR online (on Income Tax website)
The notified ITR Forms are available on the official website of the department www.incometaxindia.gov.in. The last date for filing the ITR is July 31.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES

LIC Saral Pension Plan: How to get Rs 64,000 annual pension on Rs 10 lakh one-time investment in this annuity scheme that everyone is talking about

Gratuity Calculation: What will be your gratuity on Rs 45,000 last-drawn basic salary for 6 years & 9 months of service?

Rs 1,500 Monthly SIP for 20 Years vs Rs 15,000 Monthly SIP for 5 Years: Know which one can give you higher returns in long term

Income Tax Calculations: What will be your tax liability if your salary is Rs 8.25 lakh, Rs 14.50 lakh, Rs 20.75 lakh, or Rs 26.10 lakh? See calculations

8th Pay Commission Pension Calculations: Can basic pension be more than Rs 2.75 lakh in new Pay Commission? See how it may be possible

SBI Revamped Gold Deposit Scheme: Do you keep your gold in bank locker? You can also earn interest on it through this SBI scheme

Monthly Pension Calculations: Is your basic pension Rs 26,000, Rs 38,000, or Rs 47,000? Know what can be your total pension as per latest DR rates
07:41 PM IST