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ITR1 Return

ITR-1, also known as Sahaj, is an income tax return (ITR) form designed for salaried individuals, pensioners, and those earning interest income. It applies to taxpayers with total income up to ₹50 lakh and income from a single house property. Filing ITR-1 ensures tax compliance, allows taxpayers to carry forward losses, and facilitates tax refunds. Many individuals seek tax consultancy services for accurate tax filing and to optimize deductions. Additionally, GST return filing is an essential aspect for businesses registered under GST services. Taxpayers can download ITR forms from www.incometaxindia.gov.in, and expert guidance from business compliance professionals can ensure seamless filing.

Brief Description of ITR-1 Return

Also known as SAHAJ is applicable to an individual having salary or pension income or income from one house property (not a case of brought forward loss) or income from other sources (not being lottery winnings and income from race horses, income taxable undersection 115BBDAor income reffered in section 115BBDA or income referred in section 115BBE).

Who can use ITR-1

Return Form ITR - 1 (SAHAJ) can be used by an individual whose total income includes:

Income from salary/pension
Income from one house property (excluding cases where loss is brought forward from previous years)
Income from other sources (excluding winnings from lottery and income from race horses, income taxable under section 115BBDA or Income of the nature referred to in section 115BBE).

Further, in a case where the income of another person like spouse, minor child, etc., is to be clubbed with the income of the taxpayer, this return form can be used only when such income falls in any of the above categories.