Salary income HOUSE PROPERTY TDS

Summary

This video provides a comprehensive guide on how to file ITR 1 (Sahaj) for Assessment Year (AY) 2026-27. It highlights critical eligibility criteria, such as the ₹50 lakh income limit for residents and the restrictions on filing for NRIs, directors, or those with agricultural income exceeding ₹5,000. Key updates for the 2026-27 cycle are discussed, including the new requirement for primary and secondary addresses/emails to ensure better communication from the Income Tax Department.

The guide explains the differences between the New and Old Tax Regimes, noting that the New Regime is now the default and must be opted out of by July 31, 2026, to use the Old Regime. Detailed insights are provided on reporting salary income (Form 16), House Property details (including joint ownership and tenant TDS), and the increased Standard Deduction of ₹75,000 in the New Regime. Finally, it covers important deadlines, late fees, and the upcoming availability of the online filing utility.

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