ITR-1, also known as Sahaj form, is a simple one-page income tax return form that is used by individual taxpayers to file their income tax returns. It is meant for individuals who have income from salary or pension, one house property, and other sources such as interest income, dividends, etc. The form is primarily used by salaried employees and pensioners who do not have business income or capital gains. Taxpayers can file their ITR-1 form online on the income tax department's e-filing portal.

Requirements for filing ITR-1:

• Personal details: The taxpayer needs to provide personal information such as name, PAN, Aadhaar number, address, etc.
• Income details: The taxpayer needs to provide details of income from salary, house property, and other sources such as interest, etc. The total income should not exceed Rs. 50 lakhs for using the ITR-1 form.
• Deductions: The taxpayer can claim deductions under various sections of the Income Tax Act such as Section 80C, 80D, 80G, etc. These deductions can help in reducing the taxable income.
• Taxes paid:The taxpayer needs to provide details of taxes paid during the financial year such as TDS, advance tax, self-assessment tax, etc.
• Bank details:The taxpayer needs to provide bank account details for receiving any tax refunds.