There are many types of ITR forms and taxpayers fill different forms depending on the income. Here we are telling you about ITR Form-1. Know how to fill it online.
How to file ITR: The season for filing income tax returns is starting. ITR Form, ITR-1 and ITR-4 for the financial year 2023-24 (assessment year 2024-25) have also been notified, so now taxpayers can start preparing to file their income tax returns. There are many types of ITR forms and taxpayers fill different forms depending on the income. Here we are telling you about ITR Form-1.
Who fills Form ITR-1?
Those Indian citizens whose annual income is up to Rs 50 lakh fill Form 1. Your salary, pension or any other source is also included in the income up to Rs 50 lakh. Agricultural income up to Rs 5000 is also included in this. But if you are a director of a company, have invested in an unlisted company, earn from capital gains, earn from more than one house or property or earn from business, then you cannot fill this form.
How to fill ITR-1?
Step 1- First of all, go to the e-filing portal of Income Tax, https://www.incometax.gov.in/iec/foportal/ .
Step 2- Here enter PAN, password and captcha code in the user ID and log in.
Step 3- You will see the e-file menu above, and then go to Income Tax Return and select File Income Tax Return.
Step 4- On the next page you have to select the relevant assessment year. In the mode of filing below, online option has to be selected. Then click on Continue.
Step 5- Here you will click on Start New Filing. If you had tried filing earlier and had saved the draft, then you can choose the above option.
Step 6- Here you have to click on Individual in Status Applicable because you have to file ITR-1.
Step 7- On the next page you have to select ITR form, where you will select ITR 1. Here you can see which type of taxpayer has to fill which ITR form. Proceed with ITR Form 1.
Step 8- You can see here which documents you will need. Click on Let’s Get Started to proceed.
Step 9- In the next page you will tell why you are paying income tax.
Step 10: Now you have to validate the details of your pre-filled return. In this, check your details in personal details. If there are some changes in the filing section, you can edit them.
Step 11- Similarly, you will also have to validate the details of your total income, tax deduction, tax paid, and tax liability. When you have validated all the details then you can proceed. If any tax amount has to be paid now, you can do it now or later with e-pay tax service.
Step 12- Now you can see the preview of your ITR. From here click on Proceed to Validation.
Step 13- Now you have to verify ITR. Three options will come, choose whichever option is easy and convenient for you. After e-verification your ITR will be submitted. You can download your ITR receipt from here.
