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ITR-1 Income Tax Filing with Tax2win

ITR filing for the Financial Year 2024–25 has started , releasing the utilities for ITR-1 and ITR-4. The due date of filing this year has been extended from 31st july to 15 September. This year, some important changes have been introduced.

While filing your return, you now need to disclose detailed deduction information — including policy numbers, document IDs, and more — especially if you're claiming deductions like HRA, 80C, or 80D.

Who Can File ITR-1?

This form can be filed by RESIDENT Individuals who have income up to Rs. 50 Lakhs in a particular financial year from the following sources: -

  • Salary/Pension (one or multiple employers)
  • One house property (excluding cases where loss is brought forward from previous years): This includes earnings from rental income or payment of home loan interest.
  • Other sources: (excluding any winnings/ income from the lottery, income from racehorses, etc.) like interest income from banks, income from dividends, etc.
  • Agricultural Income up to Rs 5000
  • As per the latest update for filing for FY 2024-25, if you have long-term capital gains up to Rs 1.25 lakh from the sale of listed equity shares and equity-oriented mutual funds, then from this year, you can use ITR-1 to file tax return. Till previous years, taxpayers having any capital gains were not allowed to file a tax return using the ITR-1 form. They were required to file their tax returns using ITR-2 form
  • The ITR form now feature a drop-down menu in the utility for selecting deductions claimed under sections like 80C and 80GG. Additionally, assessees must furnish section-wise details regarding Tax Deducted at Source (TDS) deductions within the ITR.

Further, in the case where the income of your spouse, minor child, etc., is clubbed with your income, then this return form can be used only when your total income (after clubbing) also falls in the above-specified categories.

Tax2win’s AI-powered self-filing platform makes it easy. You can now file your ITR-4 in just 4 minutes, without any confusion.

In this step-by-step video, we walk you through the entire ITR-4 filing process, from login to submission, covering new changes in the Income Tax Portal and how Tax2win makes it simple for salaried individuals to file their returns quickly and accurately.

Read More About ITR-1 Here: https://tax2win.in/guide/itr1

arrow File now: https://tax2win.in/efile-income-tax-return