ITR-1 Form Filing in Tamil Nadu

ITR-1 Form Filing in Tamil Nadu

Known by most as the "Sahaj" form, the ITR-1 form is designed for those whose total income is not more than ₹50 lakhs. Individuals making up to ₹50 lakhs yearly from pay, one home property, other sources (interest, etc.), and up to ₹5,000 from farming are qualified to file the ITR-1 form in Tamil Nadu. There are two plans and five parts to this form, so finishing calls for close attention. Form 16, Form 26AS, payment records and your PAN card are among the necessary paperwork needed to file. Income from businesses, multiple homes, cash gains, and unique sources like raffles or racehorses is not included on the form. Timely and properly filing your income tax return rests on your obedience to the limit, which is usually July 31st.

Eligibility for ITR-1 Form Filing in Tamil Nadu

You have to complete some standards in order to file your income tax returns using the ITR-1 form in Tamil Nadu:

• Your whole income throughout the fiscal year cannot be more than ₹50 lakhs.
• Your income should come from one living place, pay, and other sources like interest.
• There should not be more than ₹5,000 in farming income.
• No money should come from your job or company.
• In no company, you may be a director.
• You shouldn't own any land or have any financial interests outside of India. For those who meet these conditions, the ITR-1 form is a good choice since it is meant for those with rather simple financial activity and income sources.

Documents Needed to File ITR-1 Form in Tamil Nadu

Gather the needed paperwork before filing your income tax returns using the ITR-1 form. Those consist of:

• Form 16 or, if appropriate, Form 16A: Your company will provide this form, which includes information about your pay and the tax deducted at source (TDS).
• Interest income from savings accounts, loans, and other sources must be reported on interest papers from banks and other financial groups.
• Rent receipts (if you have rental income): To report and claim expenses on your rental income, you must save your rental receipts.
• Specifics of any extra income (dividends, interest, etc.): Any extra money you have gotten, including interest, earnings, and capital gains, has to be recorded.
• Specifics of any tax deductions claimed (like Section 80C, 80D, etc.): You must save the appropriate paperwork if you have claimed deductions under other parts of the Income Tax Act, including Section 80C for investments or Section 80D for health insurance payments.

Filing Process of ITR-1 Form in Tamil Nadu

Submitting your income tax returns is made simple and effective when you file your ITR-1 form online in Tamil Nadu. This is a thorough directions to get you through the procedure:

Step 1: Go to the income tax e-filing website: Start at incometaxindiaefiling.gov.in, the Income Tax Department's main e-filing website.

Step 2: Make an account or log in: Register on the site if you're a first-time user. Access your present account if you already have one.

Step 3: Click "File Income Tax Return": Choose "File Income Tax Return" from the menu.

Step 4: Select the proper ITR form and review year: Choose the right grading year and the ITR form "ITR-1 (SAHAJ)"

Step 5: Complete the personal and business details and make the deductions. Complete your income, personal, and, if suitable, expenses. Assure you have your PAN card, payment records, Form 16, and Form 26AS ready.

Step 6: Check your return and post necessary documentation: Upload the needed papers, then check your income tax report. Making this step is important to guarantee truth and compliance.

Step 7: Pay property taxes (if any): Use the offered payment ways to settle any taxes due.

Step 8: Email in your ITR-1 form. After finishing the aforementioned steps, online send your ITR-1 form.

Advantages of ITR-1 Filing Online in Tamil Nadu 

1. Ease: No need to drive to any government office; you may send your income tax returns from the ease of your home or workplace. You save time and effort as a result, which also makes the filing process more approachable and easy.
2. Faster processing: Because online filing does away with the need for human data input and lowers the chance of mistakes, it promises faster processing of your income tax return. Faster working times are to be expected when you send your ITR-1 form online than when you file on paper.
3. Paperless: By using less paper, finishing your ITR-1 form online may help to create a more healthy atmosphere. This environmentally friendly way fits well with government plans to support digital change and reduce the negative effects of tax filing on the environment.
4. Protection: To protect your money and personal info, the e-filing website uses cutting edge security methods. Your tax information is kept hidden and legitimate by encryption and other strong security methods.
5. File your ITR-1 form to receive a tax refund if you have overpaid via advance tax or TDS. Optimising your financial standing ensures that you have any unpaid taxes refunded.
6. Income and home proof: Your ITR-1 form is a trustworthy source of both information. Applying for loans, credit cards, and visas, as well as getting certain government papers like Aadhaar cards, are all possible uses for this document.

Why Choose Kanakkupillai?

1. Expertise: Our team of seasoned tax experts ensures correct and compliant ITR-1 filing by having in-depth knowledge of the most current tax rules. Our wealth of knowledge allows them to handle the intricacies of income tax laws and provide exact advice catered to your specific needs.
2. Personalised Service: We at Kanakkupillai provide each customer with personalised care first consideration. Every feature of your ITR-1 file is handled with the highest care and attention by our dedicated staff, who work directly with you to understand your particular requirements and concerns. This tailored method separates us and ensures an easy and stress-free filing process.
3. On Time Filing: Kanakkupillai stresses the need of filing income tax forms on time. We are aware of the need to stick to dates in order to escape fines and late filing costs. We help you stay legal and avoid needless fees or problems by giving quick filing first priority.