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What is ITR?

ITR, or Income Tax Return, is a form submitted by taxpayers to report their annual income, deductions, exemptions, and taxes paid to the Income Tax Department of India. Filing your ITR ensures compliance with tax laws, enables you to claim refunds, and serves as income proof for various financial purposes.

What is ITR-1 (Sahaj)?

ITR-1, also known as Sahaj, is a simplified return form primarily for salaried individuals with income up to ₹50 lakh. It is applicable if your income sources include salary, one house property, and other sources like interest income (but not capital gains, lottery, or business income).

 

Who Should File ITR-1 in Lucknow?

You can file ITR-1 in Lucknow if:

  • Your total annual income does not exceed ₹50 lakh

  • Your income is from salary, pension, one house property, or interest income

  • You are not a director in a company or holding unlisted shares

  • You do not have foreign income or assets

Income Tax Slabs Under Old Tax Regime

For Individuals Below 60 Years:

  • Income up to ₹2,50,000 – Nil

  • ₹2,50,001 to ₹5,00,000 – 5%

  • ₹5,00,001 to ₹10,00,000 – 20%

  • Above ₹10,00,000 – 30%

For Senior Citizens (60–80 Years):

  • Income up to ₹3,00,000 – Nil

  • ₹3,00,001 to ₹5,00,000 – 5%

  • ₹5,00,001 to ₹10,00,000 – 20%

  • Above ₹10,00,000 – 30%

For Super Senior Citizens (Above 80 Years):

  • Income up to ₹5,00,000 – Nil

  • ₹5,00,001 to ₹10,00,000 – 20%

  • Above ₹10,00,000 – 30%

Income Tax Slabs Under New Tax Regime (FY 2024–25)

Under the new regime, taxpayers pay lower tax rates but must forego most exemptions and deductions:

  • Income up to ₹2,50,000 – Nil

  • ₹2,50,001 to ₹5,00,000 – 5% (eligible for Section 87A rebate)

  • ₹5,00,001 to ₹7,50,000 – 10%

  • ₹7,50,001 to ₹10,00,000 – 15%

  • ₹10,00,001 to ₹12,50,000 – 20%

  • ₹12,50,001 to ₹15,00,000 – 25%

  • Above ₹15,00,000 – 30%

Deductions Not Allowed in the New Tax Regime

If you opt for the New Regime while filing ITR-1 in Lucknow, you will have to give up 70+ exemptions and deductions, including:

  • Leave Travel Allowance (LTA)

  • House Rent Allowance (HRA)

  • Conveyance allowance

  • Children’s education allowance

  • Daily expenses in employment

  • Standard deduction on salary

  • Professional tax

  • Home loan interest under Section 24(b)

  • Deductions under Chapter VI-A (Section 80C, 80D, 80E, etc.), except Section 80CCD(2)

Documents Required for ITR-1 Filing in Lucknow

  • PAN Card

  • Aadhaar Card

  • Form 16 from employer

  • Bank statements & interest certificates

  • Salary slips

  • Investment proofs (if filing under old regime)

  • Rent receipts (if claiming HRA)

  • Details of all bank accounts held during the year

Why Choose FilingPool for ITR-1 Filing in Lucknow?

  • End-to-end support from experienced tax consultants

  • Comparison of old vs. new tax regime for max benefit

  • Accurate documentation and timely filing

  • CA-reviewed returns for zero error filing

  • Transparent pricing and personalized assistance

  • 100% digital, secure, and fast process

When and How to File ITR-1 in Lucknow?

The last date to file ITR-1 is July 31st of the assessment year (unless extended by the government). You can either file it on your own via the income tax portal or get expert assistance from FilingPool to ensure compliance and tax savings.

Need Help Filing ITR-1 in Lucknow?

Let FilingPool take the stress out of your tax filing. From regime comparison to filing and follow-ups, our experts ensure your ITR-1 filing in Lucknow is accurate, timely, and optimized for savings.

 

Frequently Asked Questions about ITR 1 (Sahaj)

Any individual earning up to ₹50 lakh from salary, one house property, and other sources (like interest) can file ITR-1 in Lucknow.

ITR-1 can be filed online through the Income Tax Department’s portal or with the help of tax consultants like Filing Pool for accurate and timely submission

Yes, if the individual has only one house property and the interest is claimed under Section 24(b), they can file ITR-1 under the Old Tax Regime

ITR-1 is filed by salaried individuals, pensioners, or those with income from one house property and other sources, with total income not exceeding ₹50 lakh.

The income limit for filing ITR-1 is ₹50 lakh in a financial year.