Published Article Details

All about income tax return form Sahaj

Posted by: Girija Gadre on Apr 24, 2017, 06.30 AM IST

The Central Board of Direct Taxes (CBDT) has notified new income tax return filing forms for 2017-18. An easy to understand, single page form named "Sahaj" (ITR 1) has been introduced for individual assessees whose income in the financial year 2016-17 has been up to Rs 50 lakh, subject to certain conditions.

Who can file?
ITR 1/Sahaj can be used only by individuals who have income from salaries or one house property or other sources of income (except income from lottery or income from horse racing).

Ways of filing
ITR 1 can be filed in the following ways:
1. Electronically with digital signature
2. Electronically with verification code
3. Electronically and thereafter submitting the verification in Return Form ITR-V. The assessee is required to print out two copies of Form ITR-V. One copy of ITR-V, duly signed by the assessee, has to be sent by post to Post Bag No. 1, Electronic City Office, Bengaluru - 560 100, Karnataka. The other copy may be retained by the assessee for his record.

Filing return in physical form
Option available only in following cases:
1. The individual was 80 years old or more during the previous year.
2. Income of individual does not exceed Rs 5 lakh and no refund is claimed.
Only one copy of the return form needs to be filed. If the return form is furnished physically, the acknowledgment/ ITR-V should be duly filled.

Information in the return
Details such as PAN, email id, mobile number, address, residential status, income and tax details. Aadhaar number is required. In case Aadhaar not allotted but applied for enrolment ID may be given. However, effective 1 July 2017, Aadhaar will be a mandatory field.

Points to note
1. ITR 1 Sahaj is an annexure-less form. Any document attached along with the return will be returned to the person filing the return.

(The content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.) This article appeared in Economic Times dated Apr 24, 2017, 06.30 AM IST

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