ITR 1: Salaried
ITR-1 is the Income Tax Return form used by resident individuals (other than not ordinarily resident) with total income up to ₹50 lakh from:
Salary/pension
One house property
Other sources (e.g., interest, dividends)
Agricultural income (up to ₹5,000)
Price: ₹ 1,499/-
Timeline : 1-2 Days
Proprietorship
Benefits
✅ Legal compliance – Avoid penalties under Sec 234F
✅ Proof of income – For visa, loan, or subsidy applications
✅ Carry forward losses – (Not applicable in ITR-1, but compliance helps)
✅ Faster refunds – Especially for salaried individuals
✅ Builds financial credibility – Important for future financial planning
Documents Required
✅PAN, Aadhaar, and bank account details
✅Form 16 – Issued by employer
✅Salary slips – Optional but helpful for matching
✅Interest certificates – From bank or post office (for FD/savings interest)
✅House property details – Loan interest certificate if claiming deduction
✅Investment proofs – Section 80C (LIC, PPF), 80D (insurance), etc.
✅Rent receipts – If claiming HRA
✅Other deductions – Education loan, donations, NPS, etc
Proprietorship
Deliverables
✅Acknowledgement – Immediately after filing
✅Final ITR copy – Filled and submitted form
✅E-verification assistance