Guide to file new ITR Form 1 Sahaj – applicable for AY 2017-18 (FY 2016-17)

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What is ITR-1 Sahaj?

CBDT in its press release dated 31st March 2017 notified ITR Form 1 and ITR Form 4 for 2017-18. The form is a simple one page form to enable the individual taxpayers to file their income tax returns without any complications. The due date for filing the return is 31st July, 2017. The detailed process is discussed below about filing the ITR Form 1 Sahaj.

 

Should I use ITR-1 Sahaj to file my ITR?

The new Form ITR-1 Sahaj is applicable to any individual having income from the following sources:

ITR 1 Sahaj_1_Mytaxreturns

 

Who is not eligible to file the ITR using ITR-1 Sahaj Form?

Any individual whose total income during Assessment Year 2017-18 exceeds ₹ 50 Lakhs is not allowed to use this income tax return filing form. Also if the income of the individual includes any of the following sources of income, such individual shall not be eligible to use this form.

ITR 1 Sahaj_1_Mytaxreturns_1

 

How to file Form ITR-1 Sahaj?

ITR -1 Sahaj for Financial Year 2016-17 is required to be filed electronically on the income tax website (www.incometaxindiaefiling.gov.in). The option to file the form in paper form (ie manually) is also available to following two persons-

  1. Individual of the age 80 years or more
  1. Individual whose income doesn’t exceed ₹ 5 lakhs and who has not claimed any refund in the return.

 

What are the contents of ITR Form-1 Sahaj?

ITR 1 Sahaj_1_Mytaxreturns_2

 

How to fill ITR-1 Sahaj online?

    • Visit the homepage of income tax site (www.incometaxindiaefiling.gov.in)
    • Login with your login details (PAN, password and date of birth)
    • Go to E-file-Prepare and Submit Online ITR

 

ITR 1 Sahaj_1_Mytaxreturns_3

  • Select AY as 2017-18 and ITR Form as ITR-1 and then click on the submit button.
  • The ITR-1 form will be displayed on the screen
  • The process of filing the information in the ITR Form is discussed in detail below 
     

    Detailed information for filing ITR-1 Sahaj Form online.

    Part A-Personal Information

    1. Fill the PAN details like PAN number, name, Date of birth. (In case of online filing these details will be auto filled)
    2. Fill Aadhar Number. It is mandatory to provide the same starting Financial Year 2016-17.
    3. Fill mobile number, email address and communication address (PIN code is mandatory).
    4. Fill residential status- Resident or non-resident.
    5. Tick the relevant box if you belong to Govt, PSU or others
    6. Fill the status of return in the column- return filed, whether the return is filed before the due date of 31st June of after the due date, revised, filed in response to notices?
    7. Tick the relevant box if governed by Portuguese Civil Code. If yes then only your share of income will be mentioned in the schedules.

     

    Part B-Gross Total Income

    1. In column B1 mention the amount of salary/ pension from Form 16 issued to you, in respect of all the employers in case you were working with more than one employer during the year.
    2. In column B2 mention the rental income from house property. In case of loss, write the figure in negative (which may arise due to interest deduction). If the loss is not set against all the other incomes and is intended to be carried forward ITR-1 CANNOT be used.
    3. In column B3 mention the income from other sources. (ITR-1 Sahaj can’t be used if you have incurred a loss during the year)

     

    Part C-Deductions and taxable total income

    Some of the major deductions under Income Tax Act are covered below-

    ITR 1 Sahaj_1_Mytaxreturns_4

 

Deduction under section 80D is available for self, spouse and dependent children upto ₹ 25,000, additional ₹ 25,000/- is available for parents. In case of senior citizens (ie 60 years and above but below 80 years) the limit is ₹ 30,000/-. In case of very senior citizen (80 years and above) the deduction is available on actual medical expenses up to ₹ 30,000/- when no medical policy has been undertaken. ₹ 5000/- is available for preventive health checkup (like health tests) the deduction of which is included in the mentioned ₹ 25,000/30,000. Click here to read our detailed Guide on Section 80D Deductions.
 

Part D- Computation of tax payable

ITR 1 Sahaj_1_Mytaxreturns_6

 

Part E-Other Information

ITR 1 Sahaj_1_Mytaxreturns_5

In this detail of all bank accounts held by the person in India at any time during the year is required to be given (excluding dormant accounts)

 

Schedule IT- Details of advance tax and self-assessment tax paid

Enter the challan details of the advance tax and self-assessment tax paid. Ensure that no tax is payable when you submit and file the return otherwise it will be a defective return.

 

Schedule TDS- Details of TDS

Enter the details of tax deducted by employer as per Form 16 for salary income and tax deducted on other incomes as per Form 16A.

 

Note: If tax is deducted on any income which relates to next year, such portion of tax can be carried forward to the next year. In the column amount of TDS claimed this year exclude such part which relates to next year and it will be carried forward.

 

Verification

Complete the verification by filling your details and mention the date and place.

 

How to verify ITR Form ?

  1. One can send the signed copy of ITR V to CPC Bengaluru physically within 120 days of filing return. 
  2. Verification can also be done online by following ways-
  • Aadhar OPT
  • Net banking
  • EVC code
  1. Go to View Returns/ Forms- Click here to view returns pending for verification- e-verify
  2. The options mentioned above will be displayed above and return can be verified.

 

Click here to read our detailed Guide on Things to take care while sending ITR-V

Did you know, Mytaxreturns has made filing ITRs very simple. It just takes 4 steps and 5 minutes. Click here to start efiling. 

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