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Chapter 4Filing ITR-1 — step by step

Filing the form, screen by screen

In this chapter: Personal information, bank accounts, nominee for refund · Income from salary section — gross, exempt, deductions u/s 16 · Income from house property and from other sources · Computation, advance tax, and TDS reconciliation

~3 min readLayer 1 · Financial LiteracyFree
Foundation

On the income-tax portal, go to "File ITR" → select Assessment Year → Online filing → Individual → ITR-1. The form has five tabs in order: Personal Info, Gross Income, Total Deductions, Tax Paid, Total Tax Liability. Walk through them sequentially. Most fields auto-populate from your saved profile, Form 16, and AIS. Your job is verification, not data entry.

Deep Dive

In Personal Info: ensure your address, contact, and primary bank account (for refund) are correct — refunds go only to a pre-validated bank account. In Gross Income: salary section needs the breakup from Form 16 (Section 17(1) gross, Section 10 exempt allowances like HRA/LTA, deductions under Section 16 like standard deduction and professional tax). House property section needs annual value, municipal tax paid, and home-loan interest. In Other Sources, declare bank interest separately (as it is taxable but you may take 80TTA on savings interest only). In Total Deductions, verify each 80C/80D/80E line against actual investments. The tax calculation runs automatically.

Advanced

Two screens that trip people up: (1) the bank-account section requires you to mark which one receives the refund — the portal only releases refunds to pre-validated accounts (validation requires linking via the portal or your bank net-banking). (2) The "tax paid" tab shows TDS, advance tax, and self-assessment tax — these auto-pull from 26AS but you should manually verify if any TDS challan didn't make it to 26AS yet (it can take 7-15 days post-deduction). If you find a missing TDS, contact the deductor first; do not proceed to file with a known mismatch.

Educational purposes only. The numbers, returns, and examples used in this lesson are illustrative. Past performance does not guarantee future results. Mutual fund and securities investments are subject to market risks. This lesson is not investment advice; for advice tailored to your circumstances, consult a SEBI-registered Investment Adviser. Read our full disclaimer.