Income tax returns made easy: Step-by-step guide to filling the 1-page form

Only salaried individuals having an income up to Rs 50 lakh can use this form

 

 

The ITR 1 Sahaj form is a one-page simplified income tax return form introduced by the government for salaried individuals to ease the filing process. Only salaried individuals having an income up to Rs 50 lakh can use this form. However, if along with salary income, you have income from more than one house property, capital gains, income from agriculture exceeding Rs 5,000, foreign income/assets, business income or income from winnings from lottery/gambling, then you cannot use this form.
ITR 1 Sahaj consists of the following parts:

Part A – General information
Part B – Gross total income
Part C – Deductions and taxable total income
Part D – Computation of tax payable
Part E – Other information

Schedule IT
Here you need to enter the details of all the payments for advance efiling of income tax and self-assessment tax made by you. You have to mention the BSR code, date of payment, serial number of the challan, and amount of tax paid.

 

Schedule TDS

 

Here you have to quote the complete details of every TDS/TCS transaction deducted on your income tax filing. You should furnish these details in accordance with Form 16 issued by your employer and Form 16A issued by a person in respect of interest income and other sources of income. Also, details of TCS in accordance with Form 27D issued by the tax collector should be furnished.