ITR-1 Filing (Salaried Individuals)

Who can use ITR-1

• Resident individuals, not resident but not ordinarily resident, and not non-resident
• Total income within the prescribed ceiling for the form
• Income from salary or pension
• Income from one house property only
• Income from other sources such as bank interest, excluding lottery and racehorses
• Agricultural income within the small limit permitted

When you cannot use it

• You have capital gains beyond the limited exemption the form now permits
• You own more than one house property
• You have business or professional income
• You are a director in a company, or hold unlisted equity shares
• You have foreign income, foreign assets or a foreign bank account
• Your agricultural income exceeds the small permitted limit
• You have brought-forward losses to set off or carry forward

Do not stop at filing

A return that is filed but not verified is treated as never filed. Verification is completed through Aadhaar one-time password, net banking or a pre-validated bank account, and must be done within the period allowed.

It is also worth checking Form 26AS and the annual information statement before filing. The department already knows about your interest income, your share transactions and your large payments, and a return that does not match generates an automated query.

How we handle it

1. 1 Gathering documents We collect your Form 16 and interest certificates and pull your 26AS and annual information statement.
2. 2 Confirming eligibility We check you actually qualify for ITR-1, since using the wrong form makes the return defective.
3. 3 Comparing regimes Liability is computed under both the old and new regimes and the better outcome identified.
4. 4 Preparing the return The return is prepared with deductions claimed and the refund or payable position shown clearly.
5. 5 Filing and verification After your approval the return is filed and e-verified, and the acknowledgement sent to you.

Frequently asked questions