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Dr. Supreena Narayanan

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What is the process to file ITR 1 Sahaj Online Form intended for AY 2022-22-23 (Easily)?

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What is the Income-tax Return (ITR 1) 1 Form?

The taxpayers and individuals filing the ITR 1 Form are residents (other Than Not Ordinarily Resident), having a Total Income of INR 50 lakhs, with Income from Salaries, One House Property, or Other Sources (Interest, etc.) and Agricultural Income of up to INR 5 000. Not for individuals who are directors of companies or have invested in unlisted equity shares. Notable also is the fact that starting from now; the Income Tax Department requires you to furnish your PAN and Aadhaar card information on their official website.

What is the process to file ITR 1 Sahaj Online Form intended for AY 2022-22-23 (Easily)?

 

To establish a simple tax compliance structure, the income tax department has issued ITR forms to taxpayers based on their source income. You are required to provide the return according to the source of income.

 

Eligibility to File ITR 1 via the internet intended for AY 2022-23

ITR-1 is filed for taxpayers with income of up to Rs 50 Lakhs from the below-mentioned sources.

  • If income comes from only one property, losses in previous years that are carried forward are not included.
  • If income comes from pensions or salaries
  • If income comes from other sources
  • If the spouse or minor shows a combined income, ITR-1 can only be filed if their source of income is as stated in the previous points.

ITR 1 Online Filing Not Available for AY 2022-22-23

Depending on the situation, this person will need to file an ITR-2 or ITR-3 return.

This form is not available to taxpayers whose income exceeds Rs 50 lakhs.

ITR 1 cannot be filed by non-residents or RNOR (Residents Not Ordinarily Residents).

Two or more properties in a house are not eligible for tax.

Not eligible are those who have income from a business or profession.

Long-term or short-term capital gains are a taxpayer's liability

The income of taxpayers from agriculture is more than Rs. 5,000

A taxpayer who seeks relief from foreign taxes paid or double taxation relief, as described in section 90/90A/91.

ITR 1 is not available to residents outside India with any asset (including financial interests in any entity).

TDS deducted according to 194N

If income tax is deferred to ESOP

 

Penalty for missing the Income Tax Return Filing Deadline

Revisions to section 234F of the IT Act from 1 April 2017 inform that individuals are liable for a maximum INR 10,000 fine if they miss the 31 July deadline for ITR filing. If an individual's total income is less than 5 lakh, a penalty of INR 1000 will apply.

ITR 1 and ITR 4 offline availability available for seniors-most citizens over 80 years

The normal filing return and response are separated for section-wise returns.

Salary bifurcation is done using the standard deduction, entertainment allowance, and professional tax.

The nature of employment has been updated to include the pensioner's column.

Under the heading income from salary, details of the employer such as TAN of Employer (mandatory in case tax is deducted), Name and Nature of Employer), Address to Employer, Town/City State, PIN/ Zip Code have been included.

 

Removing details of the Return of Income submitted in response to notice u/s. 153A and 153C.

ITR-1 Verification

After entering the required details, the taxpayer must verify and sign the verification content.

 

Medium by electronic means to Furnish Income Tax Return 1 (ITR)

Online or offline submissions of an ITR-1 form are possible. The online mode requires either XML to be uploaded, or the client can log in to the income tax portal to select "prepare and send online". The online filing allows you to import data from the latest ITR or form 26AS.

 

Super senior citizens (age 80 or older) are also exempt from online filing of ITR.

 

This refers to submitting the return form in paper format.

 

You can file your ITR 1 online or electronically:

 

Instructions for Completing the Form ITR-1 Online

Below is the step-by-step procedure to complete and submit your ITR-1 SAHAJ Form online.

  1. Visit the Income Tax Department Website
  2. Register if you're a new user, or log in if you have an existing account.
  3. Navigate to the _e-File drop-down menu, and select Income Tax Return'.
  4. Choose the assessment year and submission method.
  5. Click on it to start a new ITR filing.
  6. Select your functional status, i.e., whether you are an individual/HUF/others and click on 'Continue'.
  7. To proceed, choose ITR-1 Form.
  8. Choose the reason you are filing an ITR.
  9. Your pre-filled return will be generated based on the information you provide to the Income Tax Department. You can proceed by validating the information in each section, such as your details, gross income, total deductions and taxes paid, and total tax liability.
  10. Complete any details you haven't filled out before.
  11. Confirm the ITR-1 summary details.
  12. Pay the tax if applicable.
  13. View and submit your ITR.