ITR-1 Tax Filing Guide (India): Deductions & How to File

For most salaried people in India, income-tax filing is simpler than it looks — it usually means a single form, ITR-1 (Sahaj). The hard part is deciding between the Old and New regimes and making sure you've claimed what you're entitled to. The ITR-1 Calculator estimates your tax under both regimes side by side so you can see, in seconds, which one costs you less.

This is general information, not tax advice. Rules change and edge cases exist — confirm specifics with the official Income Tax Department portal or a qualified professional.

What is ITR-1 and who files it

ITR-1 is the simplest income-tax return, meant for a resident individual whose total income is up to ₹50 lakh and comes from:

• Salary or pension
• One house property (with some conditions)
• Other sources like interest income

You generally can't use ITR-1 if you have capital gains, business or professional income, more than one house property, foreign income or assets, or you're a company director. Those need a different form.

Income sources covered

For a typical salaried filer, the pieces are: your gross salary (from Form 16), interest from savings and fixed deposits, and any house-property income or home-loan interest. Add them up and that's your gross total income before deductions.

Deductions you can claim

Under the Old regime, common deductions include:

• Section 80C (up to ₹1.5 lakh) — EPF, PPF, ELSS, life insurance, principal on a home loan, children's tuition.
• Section 80D — health-insurance premiums.
• Standard deduction for salaried individuals.
• Home-loan interest under Section 24(b).
• 80TTA/80TTB — savings-account interest.

The New regime offers lower slab rates but removes most of these deductions (a standard deduction still applies). Whether Old or New wins depends entirely on how much you actually claim — which is exactly what a calculator is for.

Using the ITR-1 Calculator

1. Open the ITR-1 Calculator and enter your salary income.
2. Add your deductions — 80C, 80D, home-loan interest, and so on.
3. Compare Old vs New side by side; the tool shows the tax under each and which is cheaper.
4. See your estimated refund or payable amount.
5. Download a summary to keep with your records.

Everything runs in your browser — your income figures are never uploaded.

Step-by-step filing process

1. Gather your documents (below) and estimate your tax with the calculator so there are no surprises.
2. Log in to the official Income Tax e-filing portal.
3. Choose ITR-1 and your assessment year; much of it is pre-filled from your employer's TDS.
4. Verify the pre-filled figures against your Form 16 and Form 26AS/AIS.
5. Enter deductions, confirm the regime, and review the computed tax.
6. Submit and e-verify (Aadhaar OTP is quickest) — filing isn't complete until you verify.

Common mistakes to avoid

• Picking a regime by guesswork. Compare the numbers.
• Skipping interest income. Bank interest is taxable and shows in your AIS.
• Not reconciling with Form 26AS/AIS — mismatches trigger notices.
• Forgetting to e-verify — an unverified return is treated as not filed.

Penalty and late filing

Missing the deadline can mean a late-filing fee and interest on any tax due, and you lose the ability to carry forward certain losses. File on time even if you can't pay immediately — the penalties for not filing are worse.

Document checklist

• Form 16 from your employer
• Form 26AS / AIS (tax credit statement)
• Bank interest certificates
• 80C/80D investment and premium proofs
• Home-loan interest certificate (if applicable)
• Bank details for any refund

FAQs

Is the calculator free? Yes, and nothing is uploaded — it runs entirely in your browser.

Which regime should I choose? Whichever the calculator shows is cheaper for your deductions — there's no universal answer.

Does the tool file my return? No. It estimates your tax and produces a summary; you file on the official government portal.

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Know your number before you file. Open the ITR-1 Calculator, compare Old vs New in seconds, and download your summary — free and private.