Filing taxes and understanding how they function can feel as daunting as solving a Rubik’s Cube while blindfolded. We can understand the frustration. When it comes to ITR 1, submitting it online isn’t as hard as it seems. Think of it as a way to show you're a responsible citizen – and maybe even get some money back from the government!
This how to file ITR 1 online guide is written as illustrative as possible; to make the entire procedure of filing ITR 1 easy for you. Like preparing chai, we will break the process into bite-sized pieces. One step at a time and the filing process will be complete with efficiency. So, let's first cover a few basics about ITR 1 which need to be understood.
How to File ITR 1 Online: What Is ITR 1 and Who Is Eligible To File It?
ITR 1 or Sahaj is a form for filing income tax return for individuals with the following sources of income:
- A salary or pension
- One house property
- Other sources like income from interest
ITR 1 cannot be filed if you possess professional or business income, foreign asset properties, and if you are a director in a company. This return applies to all Indian residents making less than ₹50 lakh in a financial year.
Step 1: Get Your Documents Ready
Before you begin, ensure that you have all the necessary documents ready. Think of it as preparing your ingredients before you cook a meal. Here is what you need:
Your PAN Card: It is like an ID card for taxes. Ensure you have it handy.
Aadhaar Card: It should be linked with your PAN to verify.
Form 16: This is provided by your employer if you are salaried. It's a kind of summary of your salary and the tax deducted. This is your primary document for ITR 1.
Bank Statements: This will be for reporting interest income from savings or fixed deposits.
Investment Proofs: This would include proofs of tax-saving investments like PPF, ELSS, or insurance premiums.
Rent Receipts: This will be if you are claiming HRA.
Previous Year's ITR: Just refer to that, especially to adjust losses carried forward.
Step 2: Go to the Income Tax e-Filing Portal
Open your web browser (Chrome, Firefox, Edge – the one you use).
Now type this address in it: www.incometax.gov.in
It is the government's website. Bookmark it. Do not go to some other website which looks similar - beware of fake websites.
Step 3: Login or Register if you're a new user
Have filed ITR online earlier?
Chances are you already have an account. Click on "Login" and use your PAN as your User ID, and your password.
First-time user?
Click on "Register". You will have to select "Taxpayer" as the user type and enter your PAN, name, date of birth, etc. Create a strong password and answer security questions. It is a one-time process. Remember your User ID (PAN) and password!
Step 4: Navigate to "e-File" and then follow these steps
Once you are logged in, you should see the "e-File" tab. It is usually at the top.
Hover over it and click on "Income Tax Returns".
Then, click on "File Income Tax Return".
Step 5: Assessment Year
Assessment Year (AY): You'll be required to choose the Assessment Year. Just a reminder: you file an ITR for the previous financial year. For instance, if you are filing in 2024, it's typically for the financial year 2023-24, and the Assessment Year would be AY 2024-25. Don't make the mistake of selecting the wrong Assessment Year! It's easy to do this.
Step 6: Type of Income Tax Return and ITR Form
Status: Select "Individual".
ITR Form: Here, select "ITR-1". Now, if you are eligible for ITR 1, then it should be easy.
Step 7: Filing Reason
When asked why you are filing, normally it's the reason that your income exceeds the basic exemption limit. Thus, select "Taxable Income is more than basic exemption limit". If you are filing for some other reason, like for a refund even when income is less than the limit, then you can select according to your situation.
Step 8: Fill Your Details - The Form Itself!
This is where you actually fill in the ITR-1 form. Don't panic! The online form is quite user-friendly. It's divided into different sections. Just follow along and fill in the details as asked. You'll need to refer to your Form 16, bank statements, and other documents we talked about earlier.
Here are the main sections you'll need to fill:
Personal Information: Fill this section with the details filled during the course of registration. Verify the correctness of your name, PAN, Aadhaar, address, email, mobile number, etc.
Gross Total Income: You will put all your source incomes here. Primarily it would be your income from salary on Form 16. You can add income from house property. ( if applicable, usually for ITR 1 it's just one house or self-occupied property which is often nil income.)
Last but not least, there's income from other sources; it could be the interest income from a savings account.
Deductions: This is where you can claim deductions to reduce your taxable income.
- If you have made investments like PPF, ELSS, or paid life insurance premiums, you can claim deductions under Section 80C.
- There are other sections too, like 80D for medical insurance, 80G for donations, etc.
Refer to your investment proofs and Form 16 to fill this section. Deductions are like discounts on your tax – who doesn't love discounts?
Tax Paid: This section would reflect the amount of tax deducted from your salary (TDS) as mentioned in Form 16. You will also get to know whether you have paid advance tax or self-assessment tax.
Tax Computation and Tax Status: This section is usually automatically calculated based on the income and deductions you have entered. It will show you whether you have tax payable or are due for a refund.
- If you have tax payable, you will need to pay it online through the portal itself.
- If you are getting a refund, it will be credited to your bank account after processing.
Fill in the form with care. Make sure all numbers and information are correct. Better safe than sorry, so avoid mistakes now to avoid correcting them later. Filling out the form is like doing a puzzle: each piece of information must go in the right place.
Step 9: Preview and Submit – The Final Step!
Preview your ITR form before you click on "Submit," please. Make sure all the details are correct. Is your PAN, bank details, income figures, and deductions all correct? It's like proofreading an important email before sending it.
When you are satisfied that everything is correct, then click on "Submit". Congratulations, you've filed your ITR!
Step 10: e-Verify Your ITR – Very Important!
Filing your return isn’t the end. You need to e-verify it to make it valid. Here’s how:
- Use Aadhaar OTP, net banking, or other methods available on the portal.
- Once verified, you’ll receive an acknowledgement (ITR-V) on your registered email.
If you don’t e-verify within 30 days, your return will be considered invalid.
Conclusion: You Did It!
See? How to file ITR 1 online isn't rocket science, is it? It may seem a bit daunting at the outset; however, if you read through each of these steps carefully, you will end up filing your ITR 1 without any hassle. It's like learning a new skill – once you know how to do it, it becomes much simpler.
Filing your taxes is a big responsibility. It's how we contribute to building our nation and making things better for everyone. And, hey, it's also a way of being a responsible citizen and managing your finances properly. Plus, if you get a refund, that's just a bonus treat for yourself!
The following are some useful links from the Income Tax Department’s official pages:
The following are some useful links from the Income Tax Department’s official pages:
2. File ITR-1 (Sahaj) Online User Manual (Income Tax Dept Website)
FAQ
1. Can I file ITR 1 if I have dividend income?
Absolutely yes. And if you've earned some dividend money on your shares or mutual funds, absolutely use ITR 1, but under the head of "Income from Other Sources."
2. How Long Will It Take To File ITR Online?
Honestly, it depends a bit on how prepared you are. If all your documents are ready in front of you – Form 16, bank details, investment proofs, etc. – and you know your way around the Income Tax portal a little bit, you can file your ITR 1 maybe within 30 minutes to an hour. It is quicker than watching an episode of your favourite TV show!
However, if it is your first time, or you need to collect documents and get everything clear, give yourself two hours. Do not rush; take your time, double-check everything, and file it properly. Rushing can lead to silly mistakes, and nobody wants tax filing bloopers!
3. Can I Revise My ITR After Filing?
Yes, you could make corrections and changes if you have made any errors or omissions. Income Tax Department allows you to file a revised return before the end of the assessment year.