Income Tax Return for Salaried Individuals

Deliverables - Timeline

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Deliverables

ITR 1 Copy

Income Tax Acknowledgment

ITR 1 Computation

Digital Signature for 2 Partners

Timeline

2 Days

(from receipt of all documents)

What is ITR 1?

Income Tax Return (ITR) 1 is a form in which the salaried taxpayers file information about their income earned and tax applicable, to the income tax department.
Services Included 1. Tax filing for salaried individuals with single or multiple Form 16.
2. Rental Income from single-house property.
3. Dividend Income of more than Rs. 10 Lacs.
ITR-1 OR SAHAJ
This Return Form is for a resident individual whose total income for the year includes:
Income from Salary/ Pension
Income from One House Property (excluding cases where loss is brought forward from previous years)
Income from Other Sources (excluding Winning from Lottery and Income from Race Horses) Agricultural income up to Rs 5000.
Documents Required
1. Form 16
2. Bank Statements
3. Form 26AS
4. Annual Information System(AIS)

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FAQs

1. What is TDS shown in my payslip?

Your employer deducts tax from your salary and pays it to the I-T Department on your behalf. It’s called TDS. TDS is tax deducted at source. Your employer cuts a portion of your salary every month and pays it to the Income Tax Department on your behalf.

Based on your total salary for the whole year and your investments in tax-saving products, your employer determines how much TDS has to be cut from your salary each month.

For a salaried employee, TDS forms a major portion of an employee’s income tax payment. Your employer will provide you with a TDS certificate called Form 16 typically around June or July showing you how much tax was deducted each month.