How To E-File ITR Form -1 In 2 Minutes?

It's tax filing season. You have to e-file your income tax returns for FY 2017-18 (AY 2018-19) by July 31^st.  The Income Tax Department is watching you, so make sure you file Income Tax Returns (ITR) in time.

The income tax department has made tax e-filing really easy. The Tax Department has opened an e-filing portal and you and other citizens who are eligible to file ITR Form-1 popularly called Sahaj can easily e-file tax returns.

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How To E-File ITR Form -1 In 2 Minutes?

If you are a resident Indian with income up to Rs 50 Lakhs a year from your salary and also one house property, then you have to file ITR Form -1 also called Sahaj.

So, when do you file ITR Form-1 (Sahaj)? You file ITR Form-1 if your total income for the Financial Year 2017-18 (AY 2018-19), includes:

1. Income for a salary or a pension.
2. Income from a single house property.
3. Income from other sources which includes winnings from lotteries, horse racing and so on.

You cannot file ITR Form-1 if you have agricultural income more than Rs 5,000; you own foreign assets, capital gains from a business, or income from more than one house property.

1. How to file ITR Form-1?

You can easily e-file ITR Form-1 on the income tax department’s tax e-filing portal. You must link Aadhaar with PAN before you e-file ITR Form-1. The deadline to link Aadhaar Card with PAN has been extended till March 31^st 2019.

Before Filing ITR Form-1, make sure you have Form-16 and Form 26AS handy. Form 16 is an income certificate which gives details on TDS (Tax Deducted at Source) from under the head, “salaries”. Form 26AS is a form which shows that TDS deducted from your salary, has been deposited with the Government.

There are 2 ways of filing ITR Form-1 online:

• You have to manually enter the details and submit the income tax returns online. The second method is to upload the XML files through the offline route.

SEE ALSO: How To Pay Zero Tax?

2. How to file ITR Form-1 Online?

• You have to login to the website, www.incometaxindiaefiling.gov.in. You must have the user ID, Password and DOB and you will have to enter a Captcha Code.
• You then login and click on the option, ‘Filing of Income Tax Return’.
• While selecting the ITR Form, make sure you select ITR Form-1. You then choose the requisite assessment year as well as the mode of submission. If you have the Financial Year as (FY 2017-18), then the assessment year is (AY 2018-19).
• You must fill in the required details. You will also have to fill up the break-up of your salary. If you have earned income from renting out a house property, then you must give a break-up of this income.
• After you fill up these details, you will receive an acknowledgement message which tells you, ITR has been submitted successfully.
• After you fill the form, the ITR-V will pop up on the screen, which you must download. The ITR-V would be sent to the email ID which has been registered with the IT Department.

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