Income Tax

ITR-1 (Sahaj) Filing

ITR, or Income Tax Return, is a crucial document in which taxpayers report their income and applicable taxes to the income tax department. The Income Tax Act of 1961 outlines all the ITR forms and their procedures. Among these forms, ITR-1, often referred to as Sahaj, holds particular significance. ITR1 (Sahaj) is designed for individuals with an income of up to Rs.50 lakhs, making it applicable to most salaried individuals.

Documents Required for Filing ITR 1

Key Features

Receipts

Retain receipts for exemptions or deductions (e.g., HRA allowance or Section 80C/80D deductions) not submitted to your employer on time to claim them directly on your income tax return.

Bank Investment Certificates

Details of interest earned from bank accounts, such as bank passbooks or fixed deposit certificates. Your Permanent Account Number (PAN) card is essential for identification.

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