The Income Tax Department has released the income tax return forms for the financial year 2024-25 (assessment year 2025-26). That is, now you can give the account of income and tax paid from 1 April 2024 to 31 March 2025 by filing an income tax return.
Like the previous year, the government has notified seven ITR forms this year too. In this write-up, we will discuss ITR Form 1, also known as ‘Sahaj’ and understand who can file this form and who cannot.
What is ITR-1 (Sahaj Form)?
ITR-1 is a simple, single-page form. It is specially designed for salaried, pensioners or people with limited income like interest. If your annual total income is Rs 50 lakh or less, you can fill this form.
Who can file ITR-1?
You are eligible to file ITR-1 if your income comes from these sources:
-Salary or pension (from one or more employers)
-Rental or personal use income from only one house (and no loss carried forward)
-Income from other sources like interest from bank/FD/PO
-Long-term capital gains up to Rs 1.25 lakh from equity shares or mutual funds under section 112A (and no loss carry forward)
-Clubbed income, like income of spouse or minor children, if it falls within these limits
Keep in mind: Aadhaar card must be linked to PAN. Without this, the return will not be valid.
Also read: 7 ITR Forms with key changes for AY 2025-26: Here’s how to select the right one for you
Who cannot file ITR-1?
You cannot fill this form if:
-Your total income is more than Rs 50 lakh
-You are a director of a company or hold unlisted shares
-You are an NRI or RNOR (Residents Not Ordinarily Resident)
-Your income comes from these sources:
Two or more houses
Lottery, race horses, betting etc.
Capital gains or carry forward losses of more than Rs 1.25 lakh
Agricultural income of more than Rs 5000
Business or freelance profession
Property or bank account abroad
Deferred tax on ESOPs
Income from crypto or virtual digital assets
TDS deducted under section 194N
What are the new changes in ITR-1 this year (AY 2025-26)? » Read More
