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This query is : Resolved

Padam Singh (Querist)

30 July 2012 for 24(b) deduction which ITR Should be use?

person Income belong from Salary only.

24(d) deduction where he will show in ITR and Max limit?

Pls ASAP

CA mahesh birla

CA mahesh birla (Expert)

30 July 2012 itr 2 will use

SANYAM ARORA

SANYAM ARORA (Expert)

30 July 2012
A] ITR 1 (Sahaj): To be filled up by individuals with salary, pension, rental income from one property, tax-free capital gains and income from interest.

B] ITR 2 : To be filled by individual and HUFs with salary, pension, rental income from more than one property, taxable capital gains, income from interest and foreign assets.

C] ITR 3: To be filled by partners in a firm with interest, salary, bonus, commission, capital gains, more than one property.

D] ITR 4: To be filled up by individuals and HUFs with income from business / profession with gross receipts more than Rs. 60 Lakhs a year. (If gross receipts are less than Rs. 60 Lakhs, but the income is less than 8% of gross receipts, still ITR 4 to be used).

E] ITR 4S (Sugam): To be filled up by individuals and HUFs with income from business / profession and gross receipts upto Rs. 60 Lakhs a year.

F] ITR V: Remember this is “V” and not 5. This is an acknowledgment form and is to be filled by all the above mentioned categories.