Filing an Income Tax Return (ITR) is essential for reporting income and applicable taxes to the Income Tax Department. The Income Tax Act of 1961 outlines several ITR forms and their procedures, among which ITR-1, also known as Sahaj, is particularly important for those with an income up to Rs. 50 lakh, making it suitable for most salaried individuals.

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What is the ITR-1 Sahaj Form?

The ITR-1 Sahaj Form is a simplified tax form designed to make filing easier for eligible taxpayers. It is intended for Indian residents whose total annual income does not exceed Rs. 50 lakh and comes from the following sources:

• Income from salary or pension
• Income from a single house property
• Income from other sources

The ITR-1 form enables qualified individuals to report income and fulfill their tax obligations more conveniently.

ITR-1 Filing Deadline

The deadline for filing ITR-1 is typically July 31st of each assessment year. Filing by this date is essential to maintain timely compliance with tax regulations.

Documents Required for Filing ITR-1

The ITR-1 Sahaj form does not require any attachments, but it’s important to retain certain records for reference or possible review by tax authorities in case of an inquiry or assessment:

• Form 16: Provided by your employer(s) for the relevant financial year.
• Form 26AS: Ensure that the TDS information in Part A of Form 26AS matches the details in Form 16.
• Receipts for exemptions or deductions: Keep receipts for deductions or exemptions (such as HRA or Section 80C/80D deductions) that were not submitted to your employer but are claimed directly on your return.
• PAN Card: Required for identification purposes.
• Bank Investment Records: Such as fixed deposit certificates or bank passbooks showing interest income.

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