This blog aims to provide a comprehensive guide on how to file Income Tax Return online for salaried employee. It will help you to understand the ITR-1 Sahaj Form and step by step guide you to ITR 1 filing completely online. Salaried individuals having income up to INR 50 Lakhs can prepare and submit ITR-1 Sahaj form.
Come July, and most of the salaried persons scurry for filing their income tax. Majority of the layman think this to be a herculean task. But believe me, filing your Income Tax Return (ITR) online is quite hassle-free and you can totally do it by yourself.
Table of Contents
- 1 Who are eligible to file ITR 1 for AY-2019-20
- 2 Who cannot file ITR 1?
- 3 How to file Income Tax Return online for salaried employee : Prepare, fill up and submit ITR 1 (Sahaj)?
- 4 There are seven steps to ITR 1 filing
Who are eligible to file ITR 1 for AY-2019-20
The ITR 1 Sahaj form can be filled for individuals having income up to ₹ 50 lakhs from the following sources:
- Income from Salary/ Pension
- Income from one house property (excluding cases where loss is brought forward from previous years)
- Income from other sources like interest income (excluding winning from lottery and income from racehorse)
Who cannot file ITR 1?
- An individual having income more than ₹ 50 lakhs
- An individual who is the director of a company and has invested in unlisted equity shares.
- Non-residents Indians and residents not ordinarily resident (RNOR) cannot file ITR using ITR-1.
- Individuals earning income by having more than one house property.
- Income gained from lottery, racehorses and legal gambling.
- Income gained from taxable capital gains (long term and short term).
- Individuals having agricultural income exceeding INR 5000.
- Individuals having business and professions.
- Individuals who are Indian resident having assets (including financial interest in any entity) outside India or signing authority in any account located outside India.
- Individual claiming relief of foreign tax paid or double taxation relief under Section 90/90A/91.
How to file Income Tax Return online for salaried employee : Prepare, fill up and submit ITR 1 (Sahaj)?
Follow this step by step guide that will help you to fill up and submit your ITR easily.
If you are a first time user filing your returns for the first time online, then click on the “Register Yourself” Tab on the top right-hand corner. Provide the relevant details and create your profile and password. While creating a profile, make sure that your e-mail id and mobile number is mentioned correctly. Registration will be completed by clicking the activation link sent via email and providing the one-time password (OTP) received on the mobile.
If you have already registered yourself before then click on the “Registered user” tab.
Next click on the “Login Here” Tab and enter the required details to log on.
After signing in, your account dashboard will open. It will look something like this. Click on Filing of Income Tax Return.
Your PAN No will be automatically populated. Select the Assessment year. For FY 2018-19, AY will be 2019-20. Next, select the ITR Form No., Filling type and Submission mode. Keep the submission mode online.
If you have previously filled ITR online, then some of the fields can be prefilled from the latest ITR processed by the CPC. If you want them to be prefilled, then check the relevant boxes.
The website will now redirect you to a new page where you will see the general instructions. Read them carefully and then click on the green arrow on the right-hand corner to start e-filing your ITR online.
There are seven steps to ITR 1 filing
- General Information
- Income details
- Details of deductions
- Calculation of income tax
- Details of TDS and taxes paid
- Bank details
Part A: General information
In this part, you are required to fill up your personal details like, name, surname, Adhar Card no, PAN Card details, DOB, email address and address. Some of the information such as your name, date of birth, email ID and other details will be automatically pre-filled online. You can edit some details like your addresses, email ID, and mobile number.
According to current laws, Adhaar Card is now mandatory for filing ITR. If you have not yet received your Adhaar Card, then you can also put in your Adhaar enrollment number.
Put the nature of employment. If you are filing the ITR on or before deadline, your ITR will be filed as ‘Original’ under section 139(1).
On the other hand, if you have made a mistake and have to file a revised return, then you will have to choose code ’17- Revised 139 (5)’ and select ‘Revised return’. You will have to provide additional details such as date of filing the original return and original acknowledgement number.
If you file the return after the due date, i.e., July 31, 2018, then you would be required to select option ’12- After Due Date 139(4)’.
Once you have filled up Part A, verified and saved the information, proceed on to the next part.
Part B: Filling up the Income details
All the information required to fill up this part is available in your Form 16 given to you by your employer as well as in your salary slips.
Part C: Calculation of the taxable income
Here you enter the amount of deductions that you have availed under section 80C, 80D etc and total them up.
Part D: Computation of Income Tax
Based on the amount of C2, taxes will be calculated in Section D.
Fill up the rest of the form in the ITR form. Please ensure that the taxes shown in the online form actually matches with the one you calculated. Before final submission, recheck all the details entered. Once you click on the “Preview and Submit” Button, you will be able to preview your form before submitting it finally.
Once you submit the form, the ITR will be uploaded and you will be asked to verify your returns using any of the options available. You can verify your return either electronically using the Aadhaar OTP or Electronic Verification Code method or by offline method of sending a signed printout of the ITR V to CPC, Bengaluru within 120 days from the date of e-filing.
An Acknowledgement will be sent to your registered email once the return is successfully uploaded. The IT Department will process your ITR and once it is done, you will be intimated via email and SMS on your registered mobile number.
Preparing the Income Tax Return online for salaried employee by ITR 1 filing is hassle free and can be done easily. If you need any help with your Sahaj or ITR 1 filing, comment below, or drop us a mail.