With the Income Tax Return (ITR) filing season now officially open for the financial year 2024-25 (Assessment Year 2025-26), the Income Tax Department has made ITR-1 (Sahaj) and ITR-4 (Sugam) forms live on the e-filing portal www.incometax.gov.in These are the most commonly used forms by salaried individuals and small business owners.
Who Can File ITR-1 and ITR-4?
ITR-1 (Sahaj)
For: Resident individuals
Income limit: Up to ₹50 lakh annually
You can file ITR-1 if your income is from:
- Salary or pension
- One house property
- Other sources (like interest income)
- Agricultural income (up to ₹5,000)
You CANNOT file ITR-1 if you:
- Have income from capital gains or business/profession
- Have foreign assets or income
- Are a director in a company
- Have crypto or virtual digital asset income
- Are a resident not ordinarily resident (RNOR)
ITR-4 (Sugam)
For: Resident Individuals / HUFs / Firms (Other than LLP)
Income limit: Up to ₹50 lakh annually (Presumptive income)
You can file ITR-4 if:
- You have income under Section 44AD, 44ADA, or 44AE (Presumptive income)
- You earn from business or profession on a presumptive basis
- Your income is from salary, pension, one house property, and other sources
You CANNOT file ITR-4 if you:
- Have income from capital gains or speculative business
- Own more than one house property
- Earn from foreign assets
- Are a director in a company
- Earn income from crypto
How to File ITR-1 or ITR-4 Online (Step-by-Step)
1. Visit the Official Portal
Go to https://www.incometax.gov.in and log in using your PAN/Aadhaar and password.
2. Go to ‘File Income Tax Return’
Click on “e-File” → “Income Tax Return” → “File Income Tax Return”.
3. Select the Appropriate Assessment Year
Choose AY 2025–26 and select the mode: Online.
4. Choose the Right ITR Form
Select ITR-1 or ITR-4 depending on your eligibility.
5. Pre-fill and Verify Details
The portal auto-fills most data from your previous returns and Form 26AS. Verify carefully.
6. Declare Additional Income
Add any bank interest, dividend income, or freelance earnings.
7. Validate, Preview, and Submit
Use the preview option, validate your form, and submit.
8. e-Verify Your ITR
Complete the process using Aadhaar OTP, Net Banking, or by sending a signed ITR-V to CPC, Bengaluru.
Documents Required for ITR-1 & ITR-4 Filing
For ITR-1:
- Form 16 from your employer
- Form 26AS (Tax Credit Statement)
- AIS/TIS (Annual Information Statement)
- Bank account details (all accounts)
- Interest certificates from banks/post office
- Rent receipts, if claiming HRA
- Investment proofs (LIC, ELSS, PPF, etc.)
- Aadhaar and PAN card
For ITR-4:
- All above documents, plus:
- Business income statements
- Presumptive income details under 44AD/44ADA/44AE
- Cash ledger or bank statements for business
- GST details (if applicable)
- Loan/asset information (if declared under balance sheet)
Important Dates to Remember
- ITR Filing Start Date: April 1, 2025
- Deadline (without late fee): July 31, 2025
Filing early ensures:
- Faster refunds
- Avoidance of portal overload
- Time to correct errors
Pro Tips for Smooth Filing
- Check Form 26AS and AIS before filing
- Pre-validate your bank account for faster refunds
- Use the income tax utility if you prefer offline preparation
- If unsure, consult a tax consultant or CA
- Don’t delay! Late filing may attract penalties
Conclusion
The income tax portal has made it easier than ever to file your ITR online. With ITR-1 and ITR-4 now live, salaried individuals and small business owners should begin the process early to avoid last-minute hassles. Ensure all your documents are in place, double-check your entries, and file your return well before the deadline.
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