ITR 1 RETURN FILING

E-filing refers to the process of filing an Income Tax Return (ITR) online through the internet. Taxpayers can access the new income tax portal using PAN-based login credentials, which provides a range of features to simplify and streamline the tax filing process.

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Auriga Accounting has a team of registration experts who can provide complete guidance to register your ITR-1 Return Filing.

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Why Should I Use Auriga Accounting For ITR-1 Return Filing ?

Auriga Accounting has a team of registration experts who can provide complete guidance to register your ITR-1 Return Filing.

book appointment

Our team of experts will get in touch with you and collect all necessary documents and details

Resolve all your queries

We fill out and file your application for ITR Filing

Complete your ITR Filing

Ready Your ITR-1 Return Filing

Overview ITR 1 Return Filing

An Income Tax Return (ITR) is a form used by taxpayers to report their income, expenses, tax deductions, investments, and taxes paid to the government. Under the Income-tax Act, 1961, filing an ITR is mandatory in certain cases. However, individuals may also choose to file an ITR voluntarily for reasons such as:

Carrying forward losses to offset against future income
Claiming an income tax refund
Visa applications
Applying for loans from banks or financial institutions
Obtaining term insurance policies

Eligibility for Filing ITR 1 for AY 2024-25

A Resident Individual can file ITR-1 if:

Their total income for the financial year does not exceed ₹50 lakh.
Their income sources include:
- Salary or pension
- One house property (excluding brought-forward losses)
- Family pension income
- Agricultural income up to ₹5000
- Other sources, such as:
  - Interest from savings accounts
  - Interest from bank/post office/cooperative society deposits
  - Interest from income tax refunds
  - Interest on enhanced compensation
  - Any other interest income
  - Family pension income
Clubbed income from a spouse (except under the Portuguese Civil Code) or a minor child is allowed, provided it falls within the specified sources above.

Who Cannot File ITR-1 for AY 2024-25?

ITR-1 cannot be filed by individuals who:

Are Resident Not Ordinarily Resident (RNOR) or Non-Resident Indian (NRI).
Have total income exceeding ₹50 lakh.
Have agricultural income exceeding ₹5000.
Earn income from lottery, racehorses, or legal gambling.
Have taxable capital gains (short-term or long-term).
Have invested in unlisted equity shares.
Earn income from business or profession.
Are Directors in a company.
Have tax deductions under Section 194N (cash withdrawals).
Have deferred tax on ESOPs from eligible start-ups.
Own more than one house property and earn rental income from them.
Do not meet the eligibility criteria for ITR-1.

Types of Income Not Included in ITR 1

The following types of income cannot be reported in the ITR-1 form:

Profits and Gains from Business or Profession
Capital Gains (Short-term or Long-term)
Income from More than One House Property
Income Under “Other Sources” That Includes:
- (i) Winnings from Lottery
- (ii) Income from Owning and Maintaining Race Horses
- (iii) Income Taxable at Special Rates under Section 115BBDA or Section 115BBE
Income Subject to Apportionment Under Section 5A (Applicable to Portuguese Civil Code)

Documents Required for Filing ITR 1

To file ITR-1, you need to download AIS (Annual Information Statement) and keep copies of the following documents:

Form 16 (provided by your employer)
House rent receipt (if applicable)
Investment payment receipts (for claiming deductions)
Premium receipts (for insurance or other eligible claims)

However, ITR forms are annexure-less, meaning no supporting documents (such as investment proofs or TDS certificates) need to be attached when filing—whether manually or electronically. However, keep these records handy for reference in case of assessment or inquiries by tax authorities

Precautions While Filing ITR 1

Choose the Correct Tax Regime – Opt for either the old or new tax regime based on what benefits you the most.
Verify TDS / TCS / Tax Paid – Download AIS and Form 26AS to check actual tax deductions. If discrepancies exist, reconcile them with your employer, tax deductor, or bank.
Organize Key Documents – Keep bank statements, passbooks, interest certificates, investment proofs, and receipts
Check Pre-Filled Details – Ensure PAN, address, contact details, and bank account information are correct in the pre-filled data.
Select the Right ITR Form – Choose the correct ITR type (ITR-1 to ITR-7) based on your income sources.
File on Time – E-file before the due date to avoid late fees, loss of deductions, and exemption benefits.
Verify the ITR – After filing, e-verify your return or send a signed physical copy of the ITR-V Acknowledgement to CPC, Bengaluru 560500 within the deadline if verifying manually.

Precautions to Avoid Issues While Filing Your ITR

To ensure a smooth tax filing process and avoid delays in receiving your refund, follow these precautions:

Link Aadhaar with PAN to avoid filing complications.
Pre-validate your bank account where you wish to receive your tax refund.
Select the correct ITR form as filing an incorrect form may result in your return being marked as defective.
File your return before the due date to prevent penalties and interest charges.
Verify your ITR promptly—e-Verification (recommended) is the fastest and easiest method.
Respond to any notices from the Income Tax Department (ITD) within the specified timelines to avoid legal or financial consequences.

Income Tax Slabs for FY 2025-26 (AY 2026-27)

As per Budget 2025, individuals earning up to ₹12,00,000 will have zero tax liability under the new tax regime for FY 2025-26 (AY 2026-27) due to an enhanced rebate. Below are the revised income tax slabs:

New Income Tax Slabs & Rates

Annual Income	Tax Rate
Up to ₹4,00,000	NIL
₹4,00,001 – ₹8,00,000	5%
₹8,00,001 – ₹12,00,000	10%
₹12,00,001 – ₹16,00,000	15%
₹16,00,001 – ₹20,00,000	20%
₹20,00,001 – ₹24,00,000	25%
Above ₹24,00,000	30%

Key Highlights

1. Zero tax liability for income up to ₹12,00,000 due to an increased rebate of ₹60,000.
2. Salaried individuals with an income up to ₹12,75,000 will also have zero tax liability, considering the ₹75,000 standard deduction..

Is it Mandatory to Specify the Nature of Employment While Filing an ITR?

Yes, it is mandatory to specify the nature of employment while filing your income tax return. You must choose from the following categories:

(a) Central Government Employee
(b) State Government Employee
(c) Employee of a Public Sector Enterprise (Central or State Government)
(d) Pensioner (CG/SG/PSU/Other)
(e) Employee of a Private Sector Company
(f) Not Applicable (for family pension income)

Important Notes

Marginal relief on rebate continues to apply.
The rebate does not apply to income taxed at special rates (e.g., capital gains under Section 112A).

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Based on 12 reviews

MD SAHIL

2023-06-10

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2023-06-10

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2023-06-10

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2023-04-07

They are best coordination with me. Time to time inform me how to work and what work is my pending. Time to time updated me about my company profile work like ROC Filling last date, GST filling last date, ITR etc... I have no paid any penalty since I started working with Auriga..

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2023-04-07

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2023-04-07

The auriga accounting private limited is a reliable and a customer support company the team has give Clear answer towards the customer by which the customer cannot get confused and get necessary detail to solve their queries and auriga provided me good service and delivered my work on time very well coordinate with me and talk very well I suggest if you have any work then call auriga they will definitely finish your work on time

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2023-04-07

Great Services , within affordable rate and give full satisfaction on works. Easy to Cordinate, I have done My Previous year ITR , Startup Registration. I am very happy with their services and their first priority is their Customer.

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2023-04-06

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2023-04-06

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2023-04-06

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government registration

CERTIFICATE

FSSAI & EATING LICENCES

International Organization for Standardization (ISO)

Government e Marketplace (GeM)

Enterprise Resource Planning (ERP)

ANNUAL FILINGS

RETURNS

AUDIT

Property Matters

Confidentiality

Business & Investment Support

website policy

Employment Documents

Other Legal Documents

trade agreement

Safety & Packaging

Import Monitoring System

Other IEC License

ITR 1 RETURN FILING

REGISTER NOW..

Why Should I Use Auriga Accounting For ITR-1 Return Filing ?

book appointment

Resolve all your queries

Complete your ITR Filing

Why Should I Use Auriga Accounting For ITR-1 Return Filing ?

book appointment

Resolve all your queries

Complete your ITR Filing

Overview ITR 1 Return Filing

Eligibility for Filing ITR 1 for AY 2024-25

Who Cannot File ITR-1 for AY 2024-25?

Types of Income Not Included in ITR 1

Documents Required for Filing ITR 1

Precautions While Filing ITR 1

Precautions to Avoid Issues While Filing Your ITR

Income Tax Slabs for FY 2025-26 (AY 2026-27)

Is it Mandatory to Specify the Nature of Employment While Filing an ITR?

Get more details

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