ITR-1 is the Income Tax Return form that is applicable to salaried individuals who have income from salary, one house property, and other sources of income. It is also known as Sahaj Form.
Individuals who are eligible to file ITR-1 must have the following sources of income:
Income from salary or 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 racehorses)
ITR-1 form is a simplified form and is relatively easy to fill out. The form requires basic personal information such as name, address, PAN number, etc., and details of income and deductions. Taxpayers must provide accurate and complete information to ensure compliance with tax laws and regulations.