Itr 1 Form Pdf: Fill & Download for Free

First you will find the excel version of the ITR-1 here.e-Filing Home Page, Income Tax Department, Government of IndiaSecondly you have time upto 31st July 2015.SIMPLE TAX INDIA: Due date To file Income Tax return assessment year 2014-15

Thanks for the question.Just add the Life insurance premium from whichever company you have, to your 80C deductions, be it in Excel, Java utility or directly online.Form 16 is there to make your work easier. But just because something isn't a part of form 16 doesn't mean that you can't take deduction of it.In most cases you wont even get a notice or anything if u claim a higher deduction. (Obviously dont falsify it, or else you'll have to pay many times the tax you avoided).But you have the proof right? All you may have to do in the future, if such time comes, is upload a pdf or jpg of the lic premium receipt. Just take a scanned copy and keep it available.Happy tax filing season.

Fill in ITR 1 formAs stated in our article Income Tax Base For Different Members (Individual, Hindu Undivided Family, Company) and Income Type (Income from Salary, Business, etc.). Various forms are required for submission of return shipments. Income tax return should only be submitted when gross income (income from all sources, for example: salary, home, bank account savings) is more than the government-specified exemption limit, as set out in the basics of the income tax statement, before deduction. In this article, we will show you how to complete the income tax ITR1, so let's know more about ITR-1 for the 2012-13 fiscal year (2011-12 financial year). Income Tax Section Instructions for completing ITR-1 (pdf) also explain how to complete ITR-1.ITR-1 formIncome Tax Form 1 (ITR-1) also called Sahaj (meaning simply in Hindi)applies to Individual Only with income from:1. Income from salary / pension: or2. Income from a property (excluding last year's loss): or3. Income from other sources (excluding lottery income and income from race horses)So, if you have income from business or occupation or capital gains, you can not use an ITR-1 form, you must use other ITR forms. It is the simplest income tax form. ITR-1 form can be downloaded here (pdf)ExampleTo fill out Form 16, we will take an example of Mr. T. Mehta who hasIncome from salary: Documentary evidence is form 16. TDS for salary has been updated in Form 26AS.Income from other sources: Interest on bank account (Rs 5000) and Interest rate on fixed deposit (Rs 20,000). Documents for:Interest on saving bank account document is bank account. No TDS is deducted from interest when storing a bank account.Fixed rate interest rate: Document is Form 16A, which shows TDS by 10% if interest on the fixed deposit in the financial year exceeds Rs 10,000. As Mr Mehta earned interest of Rs 20,000, the bank would deduct 10% of 20,000 i.e 2000. This will be updated in the form 26AS.He earned dividends from shares and mutual funds for an amount of R2.200. The interest rate from PPF was Rs 672. This income is tax-free or exempt incomeChapter VI-A Deductions: He has made investments that allow him to save income tax. Proof of these investments was submitted to his employer so that they appear in his form16.Section 80C: He has invested Rs 30,000 in the Public Provident Fund (PPF), Rs 7000 paid as a premium for LIC policy. With these investments, he can save tax under Article 80C.Article 80D: He has paid Rs 10,000 for health insurance premium for his family.Tax deducted at Source (TDS) is Rs 46,269.Salary income, Rs 44,269 shown in Form 16, including Education Cess and Supplement.Interest on fixed deposit R 2,000 shown in form 16A given by bank. (Note bank only gives TDS when interest on FD exceeds 10,000 per year)Mr Mehta has to fill ITR-1. Let's see how the above data is reflected in ITR-1.Shape structureITR1 form is divided into several parts, such as:Part A: Personal data: Filling out individual ITR form: Fields A1 to A22 handle it.Part B: Gross Total IncomePart C: Deduction and taxable Total IncomePart D: Taxation and Tax StatusBank account information (required in all cases, regardless of whether the refund is due or not)VERIFICATIONSch IT - DETAILS OF PREFERENCES AND SELF EVALUATION TAX PAYMENTSSch TDS1: Details of Tax deducted from Source of Salary. (Per form 16 issued by employer (s))Sch TDS2 DETAILS OF TAX ARE SOLD IN SOURCE OF OTHER REVENUE THAN SALARY (According to Form 16A issued by Deductor (s))ADDITIONAL SCHEDULE TDS 1ADDITIONAL SCHEDULE TDS 2For example, each field in the form has a tag: Tag for FIRST NAME is A1, while Income from Salary / Pension A13 is. These tags help to find the right field quickly. We will refer to these tag names along with field names.General instructions for filling out the formQuote from official instructions for filing ITR2All items must be completed in the manner specified therein; Otherwise, returns may be invalid or even invalid.If a scheme does not apply, cross over as "-NA-".If an item does not apply, write "NA" to that item.Write 'Nil' to name zero digits.With the exception of the form, for a negative figure / digit of loss, write "-" before that number.All numbers must be rounded to the nearest rupee. The figures for total income / loss and tax due will ultimately be rounded to the nearest majority of ten rupees.Part B: Gross Total IncomeAs we know, ITR-1 applies to people who earn income from salaries. Income can only be charged in this head / category of income from salary if there is an employer-employee relationship between the payer and the beneficiary. Salary includes basic salary or salary, any annuity, gratuity, advance payment of salary, extension of enrollment, commission, benefits instead of or in addition to salary and retirement benefits. Income from salary explains it in detail.Document showing the salary obtained is Form 16 and Form 12BA.Form 16: At the end of the financial year, employer gives employee form 16 containing all available earnings, deductions and exemptions. Understanding Form 16: Income Tax explains Form 16 in detail.Form 12BA: Provide details of Perquisites by the employer to the employee. Understanding of Perquisites, Concept Form 12BA speaks about Perquisites in detail.Form 16 of Mr. Mehta is shown in the figure below. While the total salary is 6.24 600 due to exemptions under Section 10 ex: HRA, Transport, Gross Total Income is 6.01.900. This is what must be completed in ITR-1 field B1, Income from salaryForm 16: Revenue DetailsForm 16: Revenue DetailsSo Part B as ITR 1 for Mr. Mehta will be as follows:ITR1: Part BITR1: Part BPart C: Deduction and taxable Total IncomeAs mentioned earlier, Mr. Mehta Rs has invested 30,000 in the Public Provident Fund (PPF), Rs 7000 paid as a premium for LIC policy. With these investments, he can save tax under Article 80C. He paid Rs 10,000 for health insurance premium for his family, allowing him to save taxes within the meaning of Article 80D. He had submitted proof of these investments to his employer so that they were reflected in his form16, as shown in the figure below.Form 16: DeductionForm 16: DeductionThis is reflected in ITR1 Part C, as shown in the picture below:ITR1: Part CITR1: Part CProof of deduction not submitted to employerIf you have not submitted proof of tax-saving instruments to your employer. Then it will not appear in Form 16. But you can still display it in the ITR, as shown in Figure ITR1: Part C.What would the difference be: Suppose Mr Mehta did not submit the proof, then the subscriptions in Form 16 would be less than 0. The total income in Form 16 (item 11 in Form 16: deduction) would be Rs 6,01,900 and not 5,54,900. This would cause his employer to deduct more tax for him.Part D: Taxation and Tax StatusWe now have to calculate tax on Mr Mehta. The total taxable income of Mr. Mehta is: Rs 5.79.900 as follows:Income after deduction of salary (5,54,900) andIncome from other sources (Interest on savings bank account Rs 5,000 and Rs 20,000 Interest of FD)Calculation of taxMr. Mehta is a man under 60, so his exemption limit per year 2012-13 is 1.80,000. So the calculation of his income is given belowDescription Income taxExempt Income 1,80,000 0Income taxable at 10% 3,20,000 32,000Income taxable at 20% 79,900 15,980Total 5.79.900 47.980Education Cess @ 3% of income tax 1.439Total tax liability 49,419TDS / Advance Tax deposited 46,269Net tax owed 3,150Mr Mehta has a net tax loss. This is due to the interest in saving bank account and the TDS for interest on FD would be 20% due to Mr. Mehta income board, but the bank cut by 10%. So Mr. Mehta has to pay Rs 3,150 self-tax with Challan Challan No. ITNS 280 is used for payment of income tax.Select (0021) INCOME TAX (OTHER COMPANIES) in the applicable tax areaSelect (300) SELF ASSESSMENT TAX in the type of payment.After paying tax liability, Part D, Taxation and Tax Status of ITR-1ITR1 : Part DNote:Although efforts have been made to provide the right information, this is our understanding of the Income Tax Act. Excuses in advance for any errors. Please let us know and correct.Please do not understand this as a professional financial advisory. You must consult a Qualified Income Tax Adviser (CA / Income Tax Attorney) before you make an income tax decision. We do not accept liability for any interpretations of articles or comments on this blog that are used for actual tax purposes.Please do not send us any emails to ask us to check your income tax details. But if you have any doubts about the article or some clarifications are needed, or you feel that something is wrong. Please leave it in the response section so that all readers can benefit.