Simplified Guide to ITR-1 (Sahaj) Filing for Salaried Individuals In Lunglei/

ITR-1 (Sahaj) is a simplified income tax return form designed for resident individuals earning up to ₹50 lakh annually from specific sources such as salary or pension, income from a single house property, and other sources like interest income and family pension. Ideal for salaried individuals or pensioners with straightforward incomes, it ensures hassle-free tax filing and compliance with the Income Tax Act, 1961. The form excludes those with incomes exceeding ₹50 lakh, multiple house properties, capital gains, or business/professional earnings. Organized into five parts and two schedules, ITR-1 captures personal, income, deduction, and tax computation details, making the process seamless. Filing ITR-1 on time prevents penalties, ensures financial transparency, and facilitates tax refunds, making it an efficient option for taxpayers to fulfill their obligations while maintaining a clean financial record.