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The article discusses the FY 2020-21 Structure of the ITR 1 Form (AY 2021-22).

What is the ITR-1 Form?

The ITR-1 Form, also called Sahaj is the Income Tax Return Form for salaried individuals (i.e. Salary / Pension / Family Pension and Interest Income).

 

Part‐ A – General Information

The general information part contains the following:

• PAN
• Name
• Date of Birth
• Aadhaar Number     (12   digits)/
• Aadhaar Enrolment Id (28 digits)
• Mobile Number
• Email Address
• Address
• Nature of Employment
• Filed u/s
  • If filed voluntarily on or before the due date, tick ‘139(1)’
  • If filed voluntarily after the due date, tick ‘139(4)’
  • If this is a revised return, tick ‘139(5)’
  • If filed in pursuance to an order under section 119(2)(b) condoning the delay, tick ‘119(2)(b)’.

 

• Or Filed in response to notice u/s
  • If filed in response to a notice under section 139(9), tick
  • ‘139(9)’
  • If filed in response to notice under section 142(1), tick ‘142(1)’
  • If filed in response to notice under section 148, tick ‘148’

 

• If the ITR is filed as a revised / defective return, then mention the Receipt No. and the Date of filing the original return.
• If filed in response to notice u/s 139(9)/142(1)/148 or order u/s 119(2)(b)‐ enter Unique Number/ Document Identification Number (‘DIN’) & Date of such Notice or Order
• Whether opting for a new tax regime u/s 115BAC.
• Whether filing return of income under the Seventh proviso to section 139(1) of Income Tax Act, 1961, if any of the following conditions apply [To be filled only if a person is not required to furnish a return of income under section 139(1) but filing return of income due to fulfilling one or more conditions mentioned in the seventh proviso to section 139(1)]
  • Have you deposited an amount or aggregate of amounts exceeding Rs. 1 Crore in one or more current accounts during the previous year?
  • Have you incurred expenditure of an amount or aggregate of an amount exceeding Rs. 2 lakhs for travel to a foreign country for yourself or for any other person?
  • Have you incurred expenditure of amount or aggregate of the amount exceeding Rs. 1 lakh on the consumption of electricity during the previous year?

 

Part‐ B – Gross Total Income

• Gross Salary
  • Salary as per section 17(1)
  • Value of perquisites as per section 17(2)
  • Profits in lieu of salary as per section 17(3)
• Less allowances to the extent exempt u/s 10 [Ensure that it is included in salary income u/s 17(1)/17(2)/17(3)]
• List of allowances
  • Sec 10(5) ‐ Leave Travel concession/assistance Note: This allowance cannot be claimed if new tax regime u/s 115BAC is opted
  • Sec 10(6) ‐ Remuneration received as an official, by whatever name called, of an Embassy, High Commission etc.
  • Sec 10(7) ‐ Allowances or perquisites paid or allowed as such outside India by the Government to a citizen of India for rendering services outside India
  • Sec 10(10) ‐ Death–cum‐retirement gratuity received
  • Sec 10(10A) ‐ Commuted value of pension received
  • Sec 10(10AA) ‐ Earned leave encashment on retirement. If category of employer is other than “Central or State Government” deduction u/s. 10(10AA) shall be restricted to Rs. 3 Lakh.
  • Sec 10(10B) First Proviso‐ Compensation limit notified by CG in the Official Gazette
  • Sec 10(10B) Second proviso‐ Compensation under scheme approved by the Central Government
  • Sec 10(10C) ‐ Amount received/receivable on voluntary retirement or termination of service
  • Sec 10(10CC) ‐ Tax paid by employer on nonmonetary perquisite
  • Sec 10(13A) ‐ Allowance to meet expenditure incurred on house rent. This allowance cannot be claimed if new tax regime u/s 115BAC is opted.
  • Sec 10(14)(i) ‐ Prescribed allowances or benefits (not in a nature of perquisite) specifically granted to meet expenses wholly, necessarily and exclusively and to the extent actually incurred, in performance of duties of office or employment. This allowance cannot be claimed if new tax regime u/s 115BAC is opted.
  • Sec 10(14)(ii)‐ Prescribed allowances or benefits granted to meet personal expenses in performance of duties of office or employment or to compensate him for increased cost of living. This allowance cannot be claimed if new tax regime u/s 115BAC is opted.
  • Any Other ‐ In case of any other allowances enter the details in a text box provided.
  • Section 10(14)(i) ‐ Allowances referred in subclauses (a) to (c) of sub‐rule (1) in Rule 2BB. This allowance can be claimed if new tax regime u/s 115BAC is opted.
  • Section 10(14)(ii) ‐ Transport allowance granted to certain physically handicapped assessee Note: This allowance can be claimed if new tax regime u/s 115BAC is opted.

 

• Net Salary.FY 2020-21 Structure of ITR 1 Form (AY 2021-22).
• Deductions u/s 16
  • Standard Deduction u/s 16(ia)
  • Entertainment allowance u/s 16(ii)
  • Professional tax u/s 16(iii)
• Income chargeable under the Head ‘Salaries’
• Type of House Property
  • Gross rent received/ receivable/ lettable value during the year
  • Tax paid to local authorities
  • Annual Value (i – ii)
  • 30% of Annual Value
  • Interest payable on borrowed capital
  • Arrears/Unrealized Rent received during the year Less 30%
• Income chargeable under the head ‘House Property’. The maximum loss from House Property that can be set off is INR 2, 00,000.
• Income from other Sources
• Less: Deduction u/s 57(iia) (In case of family pension only)
• Gross Total Income (B1+B2+B3) (If loss, put the figure in negative). To avail the benefit of carry forward and set of loss.

 

Part‐ C – Deductions and Taxable Total Income

The details of deduction under Chapter VI-A

• 80C Section :
  • Deduction in respect of life insurance premia, deferred annuity, contributions to provident fund, subscription to certain equity shares or debentures, etc.
  • Deduction in respect of contribution to certain Pension Funds
  • Deduction in respect of contribution to pension scheme of Central Government
  • Deduction in respect of contribution of the employer to pension scheme of Central Government
  • Deduction in respect of health insurance premia
  • Deduction in respect of maintenance including medical treatment of a dependent who is a person with a disability
  • Deduction in respect of medical treatment etc.
  • Deduction in respect of interest on loan taken for higher education
  • Deduction in respect of interest on loan taken for residential house property
  • Deduction in respect of interest on loan taken for certain house property
  • Deduction in respect of the purchase of an electric vehicle.
  • Deduction in respect of donations to certain funds, charitable institutions, etc.
  • Deduction in respect of rents paid
  • Deduction in respect of certain donations for scientific research or rural development
  • Deduction in respect of contributions given by any person to Political parties
  • Deduction in respect of interest on deposits in a savings account
  • Deduction in respect of interest on deposits in case of senior citizens
  • Deduction in case of a person with a disability.

 

• Nature of deduction
  • Total deductions
  • Total Income
  • Exempt income (For reporting Purposes)

 

• List of other types of exempt income
  • Agriculture Income (less than equal to Rs.5000)
  • Sec 10(10BC)‐Any amount from the Central/State Govt./local authority by way of compensation on account of any disaster
  • Sec 10(10D)‐ Any sum received under a life insurance policy, including the sum allocated by way of bonus on such policy except sum as mentioned in sub‐clause (a) to (d) of Sec.10(10D)
  • Sec 10(11)‐ Statutory Provident Fund received
  • Sec 10(12)‐ Recognized Provident Fund received
  • Sec 10(13)‐ Approved superannuation fund received
  • Sec 10(16)‐ Scholarships granted to meet the cost of education
  • Sec 10(17)‐ Allowance MP/ MLA/ MLC
  • Sec 10(17A)‐ Award instituted by Government
  • Sec 10(18)‐ Pension received by the winner of “Param Vir Chakra” or “Maha Vir Chakra” or “Vir Chakra” or such other gallantry award
  • Defense Medical Disability Pension
  • Sec 10(19)‐ Armed Forces Family pension in case of death during operational duty
  • Sec 10(26)‐ Any income as referred to in section 10(26)
  • Sec 10(26AAA)‐ Any income as referred to in section 10(26AAA)
  • Sec 10(17)‐Allowance for MP/MLA/MLC cannot be claimed as exempt income

 

Part‐ D – Computation of Tax Payable

• Tax payable on total income
• Rebate u/s 87A
• Tax after Rebate
• Health and Education Cess @4%
• Total Tax & Cess
• Relief u/s 89 (Please ensure to submit Form 10E to claim this relief)
• Interest u/s 234A
• Interest u/s 234B
• Interest u/s 234C
• Fee u/s 234F
• Total Tax, Fee, and Interest
• Total Taxes Paid
• Amount payable (D11–D12) (if D11 > D12)
• Refund (D12 – D11) (if D12 > D11)

 

Part‐ E – Other Information

Details of all bank accounts in India

• IFS Code of the bank
• Name of the Bank
• Account Number

Schedule 80G

Details of donations entitled for deduction u/s 80G

• Name and address of Donee
• PAN of Donee
• Total amount of donation – give break‐up of amount paid in cash/other mode
• Amount which is eligible for deduction

 

Schedule 80GGA

Details of donations for scientific research or rural development

• The relevant clause under which deduction is claimed
• Name and address of Donee
• PAN of Donee
• The total amount of donation – give a break‐up of the amount paid in cash/other modes
• Date of Donation in cash
• The amount which is eligible for deduction

 

Schedule 80D – Deduction in respect of health insurance premia

• Whether you or any of your family members (excluding parents) is a senior citizen.
• Self & Family
  • Health Insurance
  • Preventive Health Checkup
  • Self & Family Including senior citizen
  • Health Insurance
  • Preventive Health Checkup
  • Medical Expenditure (This deduction can be claimed on which health insurance is not claimed at (i) above)
• Whether any one of your parents is a senior citizen
  • Parents
  • Health Insurance
  • Preventive Health Checkup
  • Parents Including senior citizen
  • Health Insurance
  • Preventive Health Checkup
  • Medical Expenditure (This deduction can be claimed on which health insurance is not claimed at (i) above)

 

Schedule‐IT: Details of Advance/Self‐assessment tax payments

• BSR Code
• Date of Deposit (DD/MM/YYYY)
• Serial Number of Challan
• Tax paid. FY 2020-21 Structure of ITR 1 Form (AY 2021-22).

 

Schedule‐TDS: Details of TDS/TCS

• TAN of Deductor/ Collector or PAN/ Aadhaar No. of the Tenant
• Name of the Deductor/ Collector/ Tenant
• Gross payment/ receipt which is subject to tax deduction/ collection
• Year of tax deduction/ collection
• Tax Deducted/ collected
• TDS/TCS credit out of (5) claimed this Year

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