Know how to file ITR 1 Online without downloading form in 5 simple steps
An income tax return (ITR) is basically a document that is filed as per the provisions of the Income Tax Act, reporting one’s income, profits and losses and other deductions as well as details about tax refund or tax liability. The process of filing income tax return (ITR) can become quite complex if you do not understand the implications of what you are filling in the form. Taxpayers face many issues while filing ITR such as:
- Which ITR to file as the income tax department issues several ITR forms and which form one should use depends on your sources of income.
- Under the heads of income, there are several incomes which are tax-free and incomes from which deductions and exemptions are allowed. In such situations, computing taxable income accurately becomes challenging.
- Computing deductions
- Filling correct tax deducted at source (TDS) in ITR
- Not able to get HRA tax relief in case one has forgotten to submit any of the required documents
- Not submitting tax proofs to the employer on time
- Forgetting/not knowing your password
- Not paying advance taxes on time
The Central Board of Direct Taxes (CBDT) has notified and released various ITR forms for different purposes. If you file your return using the wrong form, then it will be considered defective. If the defect is not rectified, the return will be regarded as invalid, and the department will treat it as if the person did not file his return. Hence it is extremely important to know which ITR is applicable for which kind of assessee and for what income.
ITR 1 Form is filed by the taxpayers and the individuals being a Resident having Total Income up to Rs 50 lakhs, having Income from Salaries, One House Property, Other Sources (Interest etc.), and Agricultural Income up to Rs 5000. (Not for an Individual who is either Director in a company or has invested in Unlisted Equity Shares).
Who is ineligible to fill ITR 1?
- An individual having income above Rs 50 lakh cannot use this form.
- An individual who is either a director in a company and has held any unlisted equity shares at any time during the financial year cannot use this form.
- Residents not ordinarily resident (RNOR) and non-residents cannot file returns using ITR -1
- Also, individuals who have earned income through the following means are not eligible to file form ITR 1:
a. More than one House Property
b. Lottery, Racehorses, Legal Gambling etc.
c. Taxable capital gains (Short term and Long term)
d. Agricultural income exceeding Rs. 5,000
f. Business and Profession
g. Individual who is a Resident and has assets (including financial interest in any entity) outside India or signing authority in any account located outside India.
h. Individual claiming relief of foreign tax paid or double taxation relief under section 90/90A/91.
Can ITR 1 be filed offline?
Only the following persons have the option to file the return in paper form:
- An individual at the age of 80 years or more at any time during the previous year
- An individual or HUF whose income does not exceed Rs 5 lakhs and who has not claimed any refund in the return of income
For offline, the return is furnished in a physical paper form. The Income Tax Department will issue an acknowledgement at the time of submission of your physical paper return.
How do you file your ITR 1 online?
Step 1 – Go to the Income Tax e-Filing portal, www.incometaxindiaefiling.gov.in. Login to e-Filing portal by entering user ID (PAN), Password, Captcha code and click ‘Login’.
Step 2 – Click on the ‘e-File’ menu and click ‘Income Tax Return’ link. On Income Tax Return Page:
- PAN will be auto-populated
- Select ‘Assessment Year’
- Select ‘ITR Form Number’
- Select ‘Filing Type’ as ‘Original/Revised Return’
- Select ‘Submission Mode’ as ‘Prepare and Submit Online’
Step 3 – Click on ‘Continue’ and Read the Instructions carefully and Fill all the applicable and mandatory fields of the Online ITR Form
Step 4 – Choose the appropriate Verification option in the ‘Taxes Paid and Verification’ tab.
Choose any one of the following options to verify the Income Tax Return:
- I would like to e-Verify
- I would like to e-Verify later within 120 days from date of filing.
- I don’t want to e-Verify and would like to send signed ITR-V through normal or speed post to “Centralized Processing Center, Income Tax Department, Bengaluru – 560 500” within 120 days from date of filing.
Step 5 – Click on ‘Preview and Submit’ button and Verify all the data entered in the ITR. ‘Submit’ the ITR.
Verification of ITR
It is important to remember that, on Choosing ‘I would like to e-Verify’ option, e-Verification can be done through any of the following methods by entering the EVC/OTP when asked for.
- EVC generated through bank ATM or Generate EVC option under My Account
- Aadhaar OTP
- Prevalidated Bank Account
- Prevalidated Demat Account
On Choosing the other two verification options, the ITR will be submitted but the process of filing the ITRs is not complete until it is verified. The submitted ITR should be e-Verified later by using ‘My Account > e-Verify Return’ option or the signed ITR-V should be sent to CPC, Bengaluru.
The EVC/OTP should be entered within 60 seconds else, the Income Tax Return (ITR) will be auto-submitted. The submitted ITR should be verified later by using ‘My Account > e-Verify Return’ option or by sending signed ITR-V to CPC.
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