ITR 1 (SAHAJ) Form for Financial Year 2024-25 in West Bengal

Introduction

The Income Tax Return (ITR) is an important annual task for taxpayers. ITR 1 (SAHAJ) form filing means income tax returns for salaried person working in any organisation. If you’re an individual who is seeking to file the ITR-1 (SAHAJ), then this article will guide you thoroughly on how to use the ITR-1 (SAHAJ) for the Financial Year (FY) 2024-2025.

What is ITR-1 (SAHAJ)?

ITR-1, also known as SAHAJ, is an easy and simplified tax form that an individual can use to file Income Tax with earnings up to ₹50 lakhs. The ITR-1 applies to residents who earn income from certain sources, such as:

1. Salary/Wages (from one or multiple employers)
2. Income from one house property (excluding cases where loss is brought forward)
3. Income from other sources (such as interest, etc.) but excluding winning from the lottery and income from race horses.
4. Agricultural income up to Rs. 5,000
5. When filing combined Income Tax Returns that include a spouse or a minor, this is permissible only if their income follows the specified limits mentioned above.

If your income falls within these categories, then you are required to file ITR-1 (SAHAJ) for FY 2024-25.

Note:Linking the Aadhaar card with the PAN is mandatory for filing Income Tax Returns. The Income Tax Department has required all taxpayers to complete this linkage through the official website.

Who is not eligible to file ITR-1 for AY 25-26?

Individuals Not Eligible to File ITR-1 for AY 2025-26

You cannot file ITR-1 if:

• If an individual's income is over Rs 50 lakh, then he is not eligible to file ITR 1.
• Individuals who are directors of a company or have unlisted equity shares during the financial year cannot file ITR 1.
• Non-residents cannot file ITR-1, but residents not ordinarily resident (RNOR) are allowed to file ITR-1 provided they meet all other eligibility conditions.
• Those who have earned income through:
  • More than one house property.
  • Lottery, racehorses, legal gambling, etc.
  • Taxable capital gains (both short-term and long-term).
  • Agricultural income above Rs 5,000.
  • Business or professional income.
• Residents with foreign assets (including financial interests in any foreign entity) or who are authorized signatories for any accounts abroad.
• Individuals claiming relief for foreign taxes paid or seeking double taxation relief under sections 90/90A/91.
• Deferred income tax on ESOPs received from eligible start-ups.
• Gains from Virtual Digital Assets (cryptocurrency).
• Individuals for whom TDS is deducted under section 194N.

Documents Required for ITR 1 Filing in

Following are the required documents for ITR-1 form filing in :

1. Form 16
2. Form 26AS
3. If you are unable to submit proof of exemptions or deductions such as HRA, Section 80C, or Section 80D to your employer, you can get these receipts for your income tax return.
4. PAN Card
5. Bank Investment Certificates

How to File ITR-1 (SAHAJ) Online for FY 2024-25 (AY 2025-26)?

Following are the steps to follow to file ITR 1 (SAHAJ) online in :

Step 1: Visit the Income Tax e-filing portal

For filing ITR-1, you need to visit the income tax portal to proceed with your application.

Step 2: Collect Required Documents

For filing ITR-1 (SAHAJ) online, you need to gather the required documents, such as Form 16, Salary Slips, Form 26AS (Tax Credit Statement), investment proofs of the deductions under Section 80, Section 80C, etc.

Step 3: Download or Select ITR-1 (SAHAJ) Form

After logging into the income tax portal, reach the “e-file” menu. By clicking on the “Income Tax Return” section, select the relevant Financial Year (2024-25) and Assessment Year (2025-26) and choose ITR-1 (SAHAJ).

Step 3: Fill in the ITR-1 (SAHAJ) Form

Fill in the required fields given in the form for filing the ITR-1 (SAHAJ) form. Details such as tax, deductions, taxes paid, name, company, etc.

Step 4: Verify and Submit

Once you have entered all the necessary details, verify the information that you’ve provided within the form.

Step 5: Acknowledgement

Once your return is successfully filed, you will receive an acknowledgment for your reference.

Why Bizfoc?

Bizfoc is one of the leading accounting firms, and it has a professional and experienced team in the field of ITR filing. We provide a seamless process for ITR filing to our clients. We make sure to file everything accurately and in a minimal time period. We guide you at every step related to your filings and new ITR updates.

1. Provide a better process for ITR filing to our clients.
2. We make sure to file everything accurately and in a minimal time period.
3. We guide you at every step related to your filings and new ITR updates.

Conclusion

ITR-1 (SAHAJ) is an important process to file the income earnings of an individual and ensure tax regulations. By proper documentation for filing ITR-1, such as Form 26AS, Form 16, Bank Investment Certificate, etc., you can easily file your ITR-(SAHAJ). After documentation, you can follow the process for filing ITR-1 with proper guidance of ITR filings.

Frequently Asked Questions