Refresher Course on Bank Branch Audit Course

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Greetings of the day to all the members of CCI Family.

I have written the following articles in the last one week, in case you have missed them you can check it out from here.

Journey into stock market - Basics

Journey into stock market - 2

Journey into stock market - 4

What to do after Exams?

Today I am going to shift my focus from finance to taxation.

Yesterday while driving I had a thought about students who couldn’t complete their article ship or those who did but don’t have much experience in Taxation.

So through this article I would like to share my experience and help the students so that they don’t face any problem after qualifying.

In this article I would be discussing on the following –

a. Income Tax Return – 1 (ITR – 1 SAHAJ)

b. ITR – V

c. Other points in relation to ITR

So let’s start with it:

Persons Liable to file ITR-1 SAHAJ –

a. Income from salary/pension

b. Income from one House Property (Excluding cases where loss is brought forward from previous years)

c. Income from Other sources (Excluding winning from Lottery & Race Horses)

Who cannot use this Return Form –

a. Income from more than 1 House Property

b. Income under the head P.G.B.P, Capital gains, etc.

c. Any resident having any asset or financial interest outside India.

Manner of filing ITR – 1 –

a. In a paper based form

b. Electronically under Digital signature

c. Electronically with submitting the verification of the return in Return form “ITR – V”

d. ITR – V, duly signed by the assesse, has to be sent by post to Post bag No.1, Bengaluru.

New to E-Filing –

a. First of all register yourself at

b. Fill in your details i.e. User type i.e. Individual, company, HUF, etc.

c. General details eg. PAN, Address, Email id, etc.

d. You will get a login ID with the help of which you can sign in for uploading your return.

How to E- File –

a. Download the applicable ITR form

b. Fill it offline & generate XML

c. Login to the portal

d. Upload the return OR

Login to submit & submit ITR online.

Important points in relation to ITR-1 –

a. Details regarding Name, PAN, Gender, Date of Birth. (A-1 to 6)

b. Ward Circle – If you know about the ward circle fine otherwise you can get it by signing in with the help of your Permanent Account Number(PAN)  (A-7)

c. You can get it by clicking on Know my Jurisdiction and then u have to simply sign in and you will get the required details.

d. ddress, Email address, Mobile Number, Number of TRP. (A-8 to 17)

e. Details relating to salary as given in form 16 needs to be filled.

f. Details in relation to TDS has to be in line with Form 16 & 16 A & need to be reported in Tax schedule.

g. Other things as per the details of individual.

Slab Rate (2015-16)-

Click on the following link –

Checklist of Documents –

- Last year return

- Bank statement & TDS certificates

- Saving certificates

- Balance sheet, profit &loss account, etc.

P.S – This article has been written with the help of Income tax site.

All the very best for results.

About the Writer –

CA Final Student (Gave Nov 14)

CIMA Management Level

B.Com (P)

For any further help writer can be contacted at

CAclubindia's WhatsApp Groups Link


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(“It's hard to beat a person who never gives up.”)
Category Income Tax   Report

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