The Income Tax Department has categorized the taxpayers into the group to ease the tax compliance this categorization is done based on the income and the sources of the income. ITR 1 Return filing in India is for people with an income of up to Rs.50 lakh.
This article is a comprehensive guide to understanding the ITR 1 Sahaj Form. Each category of the taxpayer has to compute the taxable income as it is laid down in the Income Tax Act, of 1961. Post computation it is necessary for the taxpayer to file the Income Tax Returns.