Income Tax Return – (ITR-1)

ITR-1 Return Filing

For individuals being a resident (other than not ordinarily resident) having total income upto Rs.50 lakh, having Income from Salaries, one house property, other sources (Interest etc.), and agricultural income upto Rs.5 thousand.

Pricing

₹1,499Onwards
  •  

    Connect on WhatsApp Now

    Who Can file this Form?

    This form is for resident Indians who fall under the below-mentioned categories:

    • If income is created from a pension or salary
    • If income is created from single house property, however, in case the losses have been carried forward from the previous year, the exclusion is allowed.
    • In case the income is generated from agriculture (not more than Rs.5,000)
    • The total income produced can be a maximum of Rs.50 lakh and not more
    • Income that has been created from other sources such as lottery or winning horse races

    Who Cannot Opt for this Form?

    • If the total income created is more than Rs.50,000
    • In case individuals have taxable capital gains
    • In case income is created from more than one house property
    • During the financial year, if any investments were made in unlisted equity bonds
    • If you are an NRI (Non-Resident Indian) or RNOR (Resident Not Ordinary Resident)
    • In case there is an income produced from agriculture more than Rs.5,000
    • In case income is produced from profession or business
    • In case the taxpayer is the director of a company
    • In case any income is created from a property located abroad
    • In case an individual possesses foreign income or foreign assets.

    Documents & Information Required

    Individual :

    • Basic Information –PAN, AADHAAR, Account No & IFSC Code, Income Tax Website Credential
    • Form 16
    • Bank Statement

    For Property :

    • Home Loan Certificate
    • Property Tax Paid
    • Property Address with Pin Code
    • If Rented – Rent Per Month, Name of Tenant, Tenant PAN

    Details of Other Income :

    • Saving Interest
    • Dividend income from Equity
    • Dividend income from Mutual Funds
    • FDR Interest
    • PPF Interest
    • Any Other Income

    Deducations :

    • 80C – Investment – PPF, PF, LIC, ELSS, School Fees Receipts
    • 80D – Mediclaim – For Self & Family , For Parents (Mention if they are senior citizen)
    • NPS Contribution Self
    • House Rent Paid IF any