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What is ITR1 Form and how to file it?
December, 26th 2017

The government has made several changes in the way Income Tax returns are filed. Apart from making Aadhaar mandatory for filing IT returns, the government has also introduced different ITR Forms. One of these forms includes ITR - 1 or Sahaj.

A simplified one-page form, ITR1, can be filed by individuals having income up to Rs 50 lakhs from the following sources:
* Income from Salary/Pension

* Income from One House Property (excluding cases where loss is brought forward from previous years)

* Income from Other Sources (excluding winning from Lottery and Income from Race Horses)

You can also club income of your spouse or a minor child only if their income is also limited to the above specifications.
Structure of ITR - 1 Form

The ITR - 1 form is divided into these parts:

* Part A has general information
* Part B has gross total income
* Part C shows deductions and taxable total income
* Part D shows computation of tax payable
* Part E includes all other information
* Schedule IT provides detail of advance tax and self-assessment tax payments
* Schedule TDS provides detail of TDS/TCS

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You can file your ITR 1 Form online by transmitting the data electronically and then sending the acknowledgement slip of the return to the Income Tax Department's CPC office in Bangalore within 120 days of e-filing. You can also e-verify your return.

How to file ITR1 offline

Note that only individuals who are 80-years-old or above or individuals/HUFs whose income does not exceed Rs 5 lakh and who has not claimed any refund in the return of income can file the IT return in paper form. You need to file the ITR in physical paper form and get an acknowledgement slip from IT department at the time of submission.

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