How to File your ITR using ITR-1 Form?

You can file your Income Tax Return using ITR-1 for the Financial Year 2017-18 with various notable changes. Here is how you can file your Income Tax Return using the new ITR-1 Form: –

File your ITR using ITR-1 Form

The Income Tax Department has just started its service of filing Income Tax Return for the Financial Year 2017-18. All the salaried taxpayers can file their Income Tax Returns using new ITR-1 Form, for the Financial Year 2017-18. Resident individuals earning income from salary or from one house property or other sources up to Rs 50 lakh are required to file the ITR-1 form.

However, this time the ITR-1 Form has gone through certain notable changes. Let’s find out the respective changes that came into being: –

• Now the ITR-1 form is only applicable to Residents of India.
• Details of income from salary, i.e. complete breakup of salary is required.
• Details of income from house property is supposed to be mentioned.
• Penalty fees under section 234F shall be payable if the I-T return is filed after the due date.

How to file the new ITR-1 Form?

1. Offline

If you are filing your return offline using ITR-1 Form, the return shall be furnished in the paper form. While submitting your physical paper return, the Income Tax Department will issue you an acknowledgement there and then.

But as per the income tax law, only following taxpayers have the option of filing the I-T return in paper form:

• The Super senior citizens, that is the people who are, 80 years or above
• Individual/ HUF whose return does not have any claim for refund in the return of income and whose income is up to Rs 5,00,000.

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2. Online

If you wish to file your income tax return online, then you will have two choices and they are:

• You will have to Prepare and submit the Income Tax Return online.
• Then you will have to upload xml by using offline utilities.

How to prepare and submit your ITR-1 Form online

• You can Log in to incometaxindiaefiling.gov.in with your User ID, Password, Date of Birth and Captcha.
• As soon as you log in, you will see an option, “Filing of Income Tax Return.” You will have to Click on it.
• The ITR Form Name, Assessment Year and the submission mode, you will have to prepare and submit it.
• Fill in the details and click on the ‘Submit’ button. You will get a message that “Your return has been submitted successfully and ITR-V will be generated”.
• Click on the link and download it as it serves as an acknowledgement. ITR-V will also be sent to your registered email.

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How to upload XML using offline facilities

• Visit the official Income Tax Department website. On the home page, you will find an option on the right-hand side named as ‘Offline utilities”. You will have to Just click on it.
• Then you will have to click on the option “Income Tax Return Preparation Utilities”.
• Select the Assessment Year for which you want to file Income Tax Return.
• Then Download the offline utility through which you want to e-file your ITR (excel Utility or Java Utility).
• Prepare the return offline and upload the xml generated through offline utilities to the option on “Filing of Income Tax Return” on official income tax website.