ITR1 is the simplest and most basic method.
We are trying to file our income tax return with the help
of offline method and offline utility.
What is offline method?
As I have told you earlier,
There is an excel sheet with a format.
You can download the format from the website.
What you have to do is,
You can see some grey color cells on your screen.
These are not grey color cells.
These are green color cells.
Sir, we can see grey color cells here.
We have learnt from our parents and elders that
We should trust what we see.
What we see with our eyes is the truth.
Everything else is a lie in this world.
You are absolutely right.
Parents are never wrong.
They are absolutely right.
But the processing of computers is like this.
The editing of our videos is like this.
The green color is shown in grey color.
That is why you have never seen me wearing green color
clothes.
What should we do now?
We have to do it.
You can see some grey color cells.
These are not grey color cells.
These are green color cells.
You can consider them as green cells.
Because these green cells are visible in front of me.
Come on.
These green color cells are the cells where you have to put
your data.
If you put your data here, the rest of the data gets filled
automatically.
What did I say?
I am trying to say that the grey color cells that you can
see, are actually green color cells.
And you have to enter your data in these green color cells.
If you don't believe me, then you can go to Incomedex's
website.
Go to Downloads.
Download ITR 1 form from there.
And keep watching it with me.
You will see the green color form.
You will see the green color cells in that form.
And it will be proved that what the master is saying is
right.
Come on.
The green color cells are the cells where you have to enter
your data.
The first one is Aadhar number.
Why does he ask for Aadhar number from us?
Why is he asking for Aadhar card number from us?
He is asking because if you watch the news, what has
Incomedex done?
They have linked Aadhar card to your PAN card.
If you are active in the news, they have linked Aadhar card
to your PAN card.
What will happen with that?
With that, your details will automatically merge.
If you enter your Aadhar card number here, you will see
your first name, middle name, last name.
You will get all these.
If you enter your Aadhar card number, you will get all the
details here.
No problem.
Here you start your address.
What is your flat number?
What is your block number?
Roop Mahafil?
Prem Gali?
Kholi number 420?
Enter it here.
All these addresses will be entered here.
Name of the premises, your road, area, town, city, which
city you are from, where you are from, all these cities are
here.
Your state is here.
And our country is India.
If you are a resident.
But sometimes it can happen that you are a non-resident
person.
See, whatever work we are doing till now, we are assuming
that we are residents.
But sometimes, there are non-residents too.
Non-resident means a citizen of a foreign country.
A citizen of a foreign country, for example, what is the
name of a famous cricketer?
Director, what is the name of a famous cricketer from a
foreign country?
Chris Gayle?
Director, you are saying that it is Chris Gayle.
Our director has a lot of interest in IPL.
So, he said that Chris Gayle is an international cricketer.
So, if Chris Gayle comes to India, and earns some income,
then basically he will get tax on that income.
So, he will also get the return of income tax, which we say
in simple language that income tax is a summary.
He will have to file this.
So, he will go here and select his country, which country
he comes from.
If he comes here, see, all these countries, if he comes
from West Indies, then he will select West Indies here.
If he comes from South Africa, then he will select
Switzerland.
He will select all the countries in the world.
He will put a pin code, and put the nature of employment.
Nature of employment, for example, you are a salary class,
because ITR 1 is being applied on a salary class basis.
Salary class, whose income is from one house property, and
their total income is up to 50 lakhs.
So, see, what is the nature of employment?
What type of organization do you work in?
For example, if you do a government job, if you do a job,
then you have to put Central Government,
State Government.
Can you see this?
If you are in the public sector, then you have to put the
public sector.
If you get a pension, now see, pensioners also come here.
Pensioners will also come here.
If you are in private, then you have to put the address
here.
Is the point clear?
Have we done anything so far?
We have only seen how the return is filed from the offline
mode.
You don't have to do anything in that.
You will put your Aadhaar card.
All the details will automatically come here.
If you don't get the details, keep putting your details in
the green cells.
You have to put the address here.
These are all the details of the address.
Then he asks you, are you in the new tax regime or are you
in the old tax regime?
Are you in the old tax or are you in the new?
Do you want to take advantage of deductions or not?
Do you want to take advantage of deductions?
Do you want to put 2-3 slabs on yourself?
Do you want to stay in the old scheme?
What does all this mean?
Do you want to stay in the old scheme?
Then you answer yes or no here.
Are you opting for new?
No, I do not opt for new.
I opt for the old scheme.
So what will come here?
This has come.
You say no to it.
This is the point.
He is asking you a basic question with a symbol.
He has not started asking you any more high-fives.
And if he asks, he is sitting here.
He will explain and go.
There is nothing to worry about.
Come on.
Then he asks, are you filing the return of income under 131
but otherwise not required?
His answer is yes or no.
I will give you the answer.
See, what is yes or no?
Then he asks you some conditions.
Have you deposited more than 1 crore in the current account?
If yes, then it becomes mandatory.
These are the conditions when you have to file a mandatory
return.
Even if your income is less than 2.5 lakhs, even if your
income is less than 2.5 lakhs, you come under the exemption
limit, or it is possible that you are above 80 years, then
your slab rate of 5 lakhs will be imposed on you.
The slab rate of 5 lakhs will be imposed.
But what he is saying here is that if you have spent more
than 1 lakh on the electricity bill,
then you will have to file a mandatory return.
Certainly, you will have the requirement to file your
return.
So, please select that you are filing your return because
of this reason.
But when do you have to do it?
If you fall in these cases, that I have spent more than 1
lakh on the electricity bill, so I have to file a mandatory
return, so I am filing my return here.
I have spent more than 2 lakhs on foreign travel, so it has
become mandatory for me to file my return.
I am filing my return because of this.
So, please write it down here.
I have deposited more than 1 crore in my current account.
It is mandatory for me to file my return.
But people like you and me, who do not have such lofty
dreams, people like you and me, whose income is normal, we
are filing our return because we are above 2.5 lakhs.
So, what will they do?
They will come forward.
Let's see what they say.
Look at this.
Others have come forward.
Can you see this?
Are you required to file a return as per other conditions?
What are the other conditions?
That my total sales are more than 60 lakhs, or gross
receipt is more than this much.
If this is the case, then file your return here.
Is there any problem?
No problem.
Come forward.
Then they will ask your email address.
Why will they ask your email address?
Because all the correspondences will tell you your demand.
For example, you have filed your entire year's return.
You have said, this is my summary.
This is my income tax return.
According to this return,
I earn 40 lakhs a year.
On top of that, this much tax comes out.
And this is the tax payment that I pay with my return.
But there is an officer sitting there.
And what does that officer say?
He says,
I cannot see your income of 40 lakhs.
According to me, your income should be 42 lakhs.
Your income should be 42 lakhs.
This is a mismatch.
Now the demand, the extra tax on 2 lakhs, will take out the
demand.
Now, where will he send the demand?
You will get an email through the email address.
We have to put the email address here because of this.
The income tax people will send the email through the
computer.
Nowadays, everyone has stopped sending letters.
Save paper, save trees, this is the motto of everyone.
So, this is why they ask for your email address.
If there is any demand, or for example, sometimes you may
get a refund.
And the refund may be a little late.
So, whatever communication they want to have with you, it
will be done through email.
Put your mobile number here.
People also provide SMS facilities nowadays.
Come here.
Okay.
Date of filing the original return.
For example, you are filing a revised return.
You have filed a return of 40 lakhs.
After a few days, you feel that my income was not 40 lakhs,
my income was 49.5 lakhs.
By mistake, I lost a return of 50,000 extra.
In that case, in that case, you will file a revised return.
You will revise the return.
The summary you have given to the government, you will
revise it.
So, put the details of the revised return here.
When you are filing a revised return, put the details of
the original return.
Okay, sir. No problem.
Now, come here and start filing the details.
Now, he will ask you the details of your income.
Till now, he used to tell you that before making a goat
halal, it should be fed.
Till now, he has taken information from you.
I remember the first day of school.
When we used to go to the 1st or 2nd grade, she used to
talk to us very lovingly.
She used to ask, where have you come from?
What is your name?
Do you know ABCD?
She was a very nice lady.
On the 2nd or 3rd day, she used to hit us with her footwear.
At that time, I used to feel,
Madam, you were like this.
Madam, you turned out to be like this.
What we used to think about you, you turned out to be like
this.
Till now, he has taken basic details from you.
He has taken your address.
He has taken your name.
He has kept your Aadhar card number.
Even if you run away, all these details are present with
the people of Income Tax.
If you try to run away, you will be caught.
Till where will you run?
They have your email id, they have your Aadhar card number.
Even if you go to get your passport made, they have your
Aadhar card number.
Even if you go to get your passport made, they have your
Aadhar card number.
Sir, earlier, she was so clever that she took all your
details from you in the beginning.
Now, you do what you have to do.
She got all the details.
Now, tell me how much is your income?
From which sources?
In which head?
From where?
From which people did you earn money?
We are poor people.
We are SSC.
We will do whatever the people of Income Tax say.
First of all, he takes the details of salary from you.
You will have form 16, which your employer gives you.
Fill the details of form 16 from the tape here.
If you don't have form 16, then you will know how much
salary I am capable of.
For example,
I put a dummy entry of Rs.
I put Rs. 41,00,000 here.
Mr. Gupta,
Mr. Gupta, is Rs.
41,00,000 really your salary?
Oh, my son, if it was this much salary, then I would have...
Are you getting me?
Please try to understand.
I don't want to talk on camera.
For example, then value of perquisites.
Do you remember perquisites that we read in the chapter on
salary?
In the chapter on salary, we read some perquisites.
We evaluated it.
Suppose my valuation is Rs. 1,00,000.
The company has given me perquisites of Rs.
Now you will see as I enter here, the grey cells you see
here,
I see green here, the grey cells you see here, as I enter
here, as I change something here, my gross salary column
changes on real time basis.
my gross salary column changes on real time basis.
If I change value of perquisites to Rs.
2,00,000, see this, it will be Rs.
It takes your total on real time basis.
Profit in lieu of salary.
He said, apart from salary, did you get any profit from the
company?
I said, I got Rs. 2,00,000.
He added Rs. 45,00,000.
He calculated my gross salary.
He added Rs. 45,00,000.
He said, there is no retirement benefit.
I am not old enough to retire.
He said, are there any Indian countries?
I said, no.
He asked, are there any allowances exempt from section 10?
I said, no sir.
I forgot to take such allowances.
But if you want to take, you can see.
There is a triangle here.
You can see the grey cells.
I have green cells here.
You can see a triangle here.
These are all the allowances.
I have read about them.
In the chapter on salary,
I was told all these allowances.
Look at this.
These were exempt allowances.
Look.
Death cum retirement.
Commuted value of the pension.
Earned leave encashment.
These were exempt allowances.
If you have any such allowance, which is exempt, check it
in this list.
Don't think too much.
There are chances of making a mistake.
When you are getting a facility here, when you are given
such a facility, when he himself is telling you the entire
list, why should you think?
This is the entire list.
Check it from here.
Put your amount here.
For example, I am making a dummy entry.
I will put a commuted value of the pension.
I will write 5 lakhs here.
What did he do?
He made it less.
Out of my salary, he made it 5 lakhs.
He made the exempt portion minus.
He took out my net salary of 40 lakhs.
How did he do it?
I had put my salary of 41 lakhs.
Perquisites of 2 lakhs.
Profit of 2 lakhs.
According to this, it is 45 lakhs.
He made the allowance of 5 lakhs minus.
He calculated my net salary of 40 lakhs.
He is calculating it himself.
You don't have to do anything.
You just have to know your details.
You go to your employer.
He will give you form 16.
Go to your HR department.
Tell them that there is a madam in HR.
There is a system in every office.
There is a madam in HR.
She is a little rude.
She often wears glasses.
Go and tell her that you need the details of your salary.
Do you know what she will ask you?
Will you leave your job?
Are you applying for another job?
The details of your salary.
You don't have to say that I am not applying for another
job.
My master has told me that I have to file my income tax
return.
That is why
I am asking you the details of my salary.
Did you understand the point?
Then he gave me the standard deduction of 50,000 rupees.
He calculated it himself.
I didn't do anything.
The blue print is coming here.
The blue print means that he has calculated everything
himself.
He has calculated everything himself.
Very good.
I have got the standard deduction of 50,000 rupees.
These are the details of my salary.
There is a column of professional tax.
Let's say I pay the professional tax of 2,000 rupees in a
year.
He will take the details.
He has calculated my income tax of 2,000 rupees.
Do you still feel something tough?
When you had opened the form, your lungs were shivering.
Your lungs were shivering.
You had a lump in your body.
You had a fever.
You were shivering.
Do you feel anything now?
He has come.
He will do everything without any tension.
There will be details of salary.
We are playing. We are not doing anything.
Details of house property.
As we were saying, this is ITR 1.
This is the form where you have to put the details of house
property.
You have to put the income of one house property here.
I have a house, a shop which I have rented.
I will show the income of that house here.
Before showing here, tell me one thing.
When we used to calculate gross annual value, what did we
minus? We used to give tax to Municipal Department which
used to be minus, after that 30% standard deduction, do you
remember? 30%
Friends, you don't need to calculate all those things here,
30% will be automatically calculated.
You just need to know that what is the gross annual value
of your house?
In Municipal Department, in local authorities, how much tax
have you paid?
And have you taken any loan on your house?
If yes, then how much interest have you paid on it?
You should know all these details.
See, what type of house property do you have?
Are you self-occupied? Do you live in that house?
If yes, then write it down.
If not, then have you paid the rent on let-out?
Have you paid the rent on let-out?
If yes, then have you paid the rent on let-out?
If not, then have you paid the rent on deemed-to-be-let-out?
Do you remember, we had studied a point on
deemed-to-be-let-out?
There were many house properties, so we had considered the
balance people.
Do you remember the point?
It is the same thing.
If it is let-out, then I will pay the rent on let-out.
Gross rent received.
Let's assume that my rental is of Rs. 25,000 per month.
So, I will receive the rent of Rs. 3,00,000.
So, I will put the details here.
So, according to Rs. 3,00,000, he has given his standard
deduction of 30%.
But, I have also paid the tax.
I have also paid the tax to the municipal authority.
And, I have paid the tax of Rs. 10,000 for the whole year.
So, what should I do?
Let's put the details here.
What can we do?
Here it is.
The rent of Rs. 3,00,000 is done.
He has deducted Rs. 10,000.
So, my annual value is Rs. 2,90,000.
Out of this, he has deducted 30%.
So, my house property income is Rs. 2,30,000.
If someone is paying interest, then let's assume that I
have paid the interest of Rs. 25,000 for the whole year.
So, I have put the details here.
So, my house property income is Rs. 1,78,000.
Two heads have been covered.
I have added the salary income.
I have added a lot of things myself.
And, he has auto-calculated the majority of things.
This is what has happened in my house property.
I have added some things.
He has auto-calculated some things.
The government is making my work easy.
Now, let's come to the income of other sources.
What was the income of other sources?
Try to remember.
You get some dividend.
You get some deemed dividend.
You get some interest.
You get the interest of the loan that you have distributed.
You get the interest of the saving bank.
You get the interest of the FD.
You get some things like this.
Now, let's come to the nature of income.
He has given the list of the nature of income.
You don't have to work hard.
You get the interest from the income tax refund.
You get the income from the deposit.
And, where is the deposit?
In the bank, in the post office.
You get the interest of the saving bank.
You get the money from the family pension.
So, let's take the most common one.
Interest from the saving bank account.
Let's take a simple example.
Suppose, I get the interest of Rs. 5000 in the whole year.
Okay.
See, the auto-calculator has come.
I put it here.
Let me make it zero.
I will make this zero.
This will also become zero.
If I put Rs.
5000 here, then he has taken it himself.
It's a simple thing.
Okay.
Are all the points done?
Come here.
He has taken out the gross total income of Rs. 41,31,000.
I have only provided some details to him.
He has helped me a lot.
I thank him a lot for the ITR-1 form.
I am very thankful to the government that they have taken
out such forms and helped us.
We don't have to provide more details.
We need some basic things.
As you can see, I need the basic information about the
salary.
I need the basic information about the house property.
I need to know about my income in other sources as well.
He does the total himself.
I am going to get some more deductions which slip from my
mind as well.
Because everything is given in such a big detail.
We have a limited mind.
If you miss out on some things, then you can check from
here.
These are some deductions.
Here, you have the gross total income.
Now, there are some deductions here.
Usually, people forget to take deductions.
They don't remember.
They remember so that you remember.
That is why they have kept this part straight.
Here, all the deductions are present from your line.
80C life insurance premium.
Let's assume that I have got life insurance done.
Let's assume that I pay the premium of Rs. 25,000.
Do you want to know the limit of 80C?
Tell me today.
Tell me and prove that I have worked hard on you.
Do you remember the limit of 80C deduction?
Do you remember?
It was Rs. 1.5 lakh.
Let's assume that it is Rs. 1 lakh.
Let's minus it.
The system has calculated Rs. 1 lakh.
Very good.
Now, let's come to 80D.
Let's come to health insurance.
I have kept health insurance here.
What is the limit of health insurance?
Let's assume that I take Rs. 25,000.
It will populate automatically from somewhere.
Let's see that.
Let's click here.
I clicked there.
It has asked whether you or any of your family member is a
senior citizen.
I will say no.
Why is it asking for such information?
Sir, in the case of senior citizen, there was an extra
limit in 80D.
Generally, it used to be Rs. 25,000.
But later it used to increase if it was someone above 60
years.
Let's say no.
How much did I pay for health insurance?
I paid Rs. 15,000 for health insurance.
Is there any preventive health check-up?
Yes, there is one for Rs. 3,000.
Let's put Rs. 3,000.
I have put Rs. 3,000.
Let's assume that I have taken it for senior citizen, self
and family.
Since I am not a senior citizen, I will not get an extra
limit.
Let's assume that I have spent Rs. 10,000 here.
Let's see how much it will allow us.
How much will it allow?
I will put all the details.
I have validated it.
It is giving an error.
Let's go back.
Thank you.