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How to file Income Tax Return (ITR–1)?

A person earning income more than the basic exemption limit as given in the income tax slabs, needs to file income tax return. Depending on the residential status of the taxpayer and sources of income there are different forms of Income Tax Returns (ITR-1 to ITR-7). 

Individual who is a resident (other than not ordinarily resident) having income from salaries, one house property and other sources aggregating up to Rs.50 lakh, shall file ITR-1.

What details to be collected before starting to file ITR-1?

Form 16 – from your employer

Bank statements for savings accounts, Fixed Deposits (FDs) and Recurring Deposits (RDs)

Interest received during the financial year (April 1st to March 31st) on savings bank deposits, FDs and RDs is taxable.

  • Savings bank accounts – Interest is credited to savings account on quarterly basis. Take the total of 4 interest credit entries appearing in passbook / bank statements. In case of multiple savings bank accounts, take total of interest credited to all the savings bank accounts.
  • FDs and RDs – Interest may be credited on quarterly / half-yearly / yearly basis. Take a total of all the interest credit entries appearing in bank statement. In case of multiple accounts, take a total of interest credited in all the FD and RD accounts.

Details for claiming deductions 

The details of eligible deductions (investments and expenditure) which are reported to the employer are automatically fetched in Form 16. In case any details are missed, keep the relevant documents ready for adding the details in ITR.

How to file Filing Income Tax Return (ITR-1)?

  • Login to income tax e-filing portal (https://eportal.incometax.gov.in/iec/foservices/#/login)
  • Go to ‘e-File’, click ‘Income Tax Returns’, then click ‘File Income Tax Return’
  • Select Assessment Year – Assessment year for which you are filing the ITR
  • Mode of filing – select ‘Online’ 
  • Click on ‘Continue’
  • Click on ‘Start New Filing’
  • Select ‘Individual’ and click on ‘Continue’
  • Select ITR form as ‘ITR-1’ and click on ‘Proceed’
  • Click on ‘Let’s get started’
  • Select ‘Taxable income is more than basic exemption limit’ or other applicable option
  • The ITR-1 has 5 tabs –

    1. Personal Information
    2. Gross Total Income
    3. Total Deductions
    4. Taxes Paid
    5. Total Tax Liability

  • Most of the details will be pre-filled in the ITR. Check the details and enter / modify details wherever necessary.

Personal Information

  • Check profile and contact details
  • Nature of Employment – select applicable option
  • Filing Section – select ‘139(1) Return filed on or before due date’
  • Are you opting for new tax regime u/s 115BAC? – for new tax regime select ‘Yes’, for old tax regime select ‘No’
  • Bank Details – check bank details and modify details if required. Select bank account in which you would like to get refund.
  • Click on ‘Confirm’

Gross Total Income

Click on ‘Skip The Questions’ and then click ‘Yes’

  • Income from Salary
    • The salary details are auto filled. 
    • Check the details with Part B (Annexure) of Form 16 and edit if required.
  • Income from House Property 
    • Select the ‘Type of house property’ from the dropdown. 
    • Enter the amount of rent received and taxes paid for the property. If the property is self-occupied, the lettable value will be the sum for which the property could have been let out. 
    • The interest paid on housing loan can be claimed as deduction under this head. Refer to loan statement received from bank / financial institution. 
    • After filling all the details, click on ‘Add’.
  • Income from other sources 
    • This includes total of interest credited to all the savings bank accounts, FDs and RDs, family pension, etc. 
    • Click on ‘Add Details’, click on ‘Skip The Questions’ and then click ‘Yes’.
    • Select the ‘Nature of Income’ from the dropdown and enter the amount. Then click on ‘Add’.
    • If there are more incomes, click on ‘Add Another’ and follow the steps as given above.
  • Click on ‘Confirm’

Total Deductions

  • Click on ‘Skip The Questions’ and then click ‘Yes’
  • Check the details and add / edit / delete the entries if required.
  • Click on ‘Confirm’

Some of the important deductions are as follows –

  • 80C – Total of amount employee’s share to employee provident fund (EPF), contribution to public provident fund (PPF), life insurance premium, ELSS investments, FD (for 5 years), principal repayment of housing loan, tuition fees paid for your children’s education
  • 80CCD(1) – Employee’s contribution to NPS. Refer to Form 16 – Part B (Annexure).
  • 80CCD(1B) – Employee’s additional contribution to NPS. Refer to Form 16 – Part B (Annexure).
  • 80CCD(2) – Employer’s contribution to NPS. Refer to Form 16 – Part B (Annexure).
  • 80D – Health insurance premium
  • 80DD – Maintenance including medical treatment of a dependent who is a person with disability
  • 80DDB – Medical treatment of specified disease
  • 80E – Interest on loan taken for higher education
  • 80EE – Interest on loan taken for residential house property
  • 80G – Donations to certain funds, charitable institutions, etc.
  • 80TTA – Total of interest credited in all the savings bank accounts
  • 80U – In case of Self with disability / severe disability

Taxes Paid

  • The tax details are auto filled. This will show the details of TDS deducted from your salary, Advance Tax paid, etc.
  • Check the details with Form 26AS and add / edit / delete the entries if required.
  • Click on ‘Confirm’

Total Tax Liability

  • The tax details are auto filled
  • Check the details and click on ‘Confirm’
  • Click on ‘Proceed’
  • If it shows ‘Amount Payable’, then you need to pay the tax. Click on ‘Pay Now’ or go to NSDL portal https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp
  • Choose CHALLAN NO./ITNS 280
  • Tax Applicable – (0021) Income Tax (Other than Companies)
  • Type of Payment – (300) Self-Assessment Tax
  • Mode Of Payment – Choose your desired mode of payment
  • Permanent Account No – Enter your PAN
  • Assessment Year – select the assessment year
  • Enter your address and captcha code
  • Click on ‘Proceed’
  • You can see the preview of your challan. Tick the box ‘I agree’
  • You will be redirected to the Bank’s site. Complete your transaction.
  • Download and save the receipt / challan for future reference.

Last stage of filing ITR-1

  • Go back to ITR site and login to income tax e-filing portal (https://eportal.incometax.gov.in/iec/foservices/#/login)
  • Go to ‘e-File’, click ‘Income Tax Returns’, then click ‘File Income Tax Return’
  • Select Assessment Year – Assessment year for which you are filing the ITR
  • Mode of filing – select ‘Online’ 
  • Click on ‘Continue’
  • Click on ‘Resume Filing’
  • Go to tab ‘Taxes Paid’. Go to section ‘Advance tax and Self-Assessment tax payments’ and add the challan details of self-assessment tax
  • Click on ‘Confirm’
  • Go to tab ‘Total Tax Liability’. Tax payable shall be zero.
  • Click on ‘Proceed’
  • Click on ‘Preview Return’ 
  • Tick the checkbox and click on ‘Proceed to Preview’
  • Click on ‘Proceed to Validation’ and e-verify the return using any of the given options

How to check the filed income tax returns?

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