How to file income tax return online for AY 2020-21?

Guide to File Income Tax Return (ITR) 1 Online:

Part-A (General Information)

  • Create a profile on the IT department tax filing website i.e.
  • Make sure that a functional email id and mobile number to authenticate the profile.
  • Then need to quote the Adhaar number in the form and verify the Adhaar details as well.
  • Select the form applicable in your case. For most individuals, it is ITR 1- SAHAJ.
  • SAHAJ is for individuals having income from salaries, one-house property, and income from other sources such as dividends, interest income, income from winnings, etc.

Part-B (Gross total income)

  • Details of Employer like TAN , Name, Nature& Address of Employer
  • Salary details
  • All the allowances which are exempted
  • All the value of perquisites
  • Net salary
  • Deduction in u/s 16
  • Income chargeable under the head ‘salaries’
  • Gross Rent received
  • Tax paid to local authorities
  • Annual value
  • 30% of the annual value
  • Interest payable on borrowed capital
  • Arrears/unrealized rent less than 30%
  • Deduction u/s 57(iia)

Sum of the entire amount will come under Gross Total Income

Part C – Deductions u/c VI-A and Taxable total income

Here the deduction limit will be as per income tax act

  • 80C,80CCC,80CCD(1),80CCD(1B),80CCD(2),80DD,80DDB,80E,80EE,80EEA,80EEB,80GG,80GGC,80U
  • Value of Total deduction

Total income (Gross Total Income – Deductions U/c VI-A )

Part D – Computation of tax payable (Valuation of Tax Payable)

  • D1 Tax payable on total income
  • D2 Rebate u/s 87A
  • D3 Tax after rebate
  • D4 Cess on D3
  • D5 Total tax and cess
  • D6 Relief u/s 89(1)
  • D7 Interest u/s 234A
  • D8 Interest u/s 234B
  • D9 Interest u/s 234C
  • D10 Fee u/s 234F
  • D11 Total tax, fee, and interest
  • D12 Total tax paid
  • D13 Amount payable
  • D14 Refund
  • Exempt income

Part E – Other Information (banking details)

  1. IFSC Code of the bank
  2. Name of the bank
  3. Account Number

Final Step

  • The return that which is  filed will not be treated valid unless it is verified
  • The taxpayer has to verify and self-attest the form at the last by signing the verification content after entering all the details such as name, parent name and PAN details
  • For physical verification of the return, print the acknowledgment of ITR-V, sign it in blue ink, and send it to the Centralized Processing Centre (Bangalore) within 120 days of filing your return.

Important Terms to Understand In ITR-1 SAHAJ Form for AY 2020-21

  • Revised Return: There is an option of re-file, so if you have made certain mistakes, you can rectify them again. For the FY 2019-20 the taxpayer can furnish the revised return on or before 31 March 2021.
  • Advance Tax: If the tax on other income is above Rs. 10,000 in a year, the assesse is required to calculate and deposit the advance tax. This advance tax is to be paid on a quarterly basis such as on, June, December, September and March.
  • Annexure-less Return: Annexure-less return which means it doesn’t require to affix any documents with the ITR-1 Form.