ITR AY.11-12

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 June 2011 Dear
As per ITR 1 (SAHAJ), the person who have Income from one house property can use this form. I have one house property & this is let out. Afte computation, I found that the Loss from this house property is Rs.2,00,000/- because this was let out only for 3 months & the interest was too high in previous year.
now my question is; Which form should I use for my IT return of AY.2011-12.

Thanks in advance

CA KRISHNA KUMAR DARUKA

CA KRISHNA KUMAR DARUKA (Expert)
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20 June 2011 ITR 1 cannot be used if you have Income from House Property. You have to use ITR2 in which loss on House Property can be carried forward.

Querist : Anonymous

Querist : Anonymous (Querist)

20 June 2011 Dear Sir,
Thanks for ur reply.
What I understood, If I have self occupied house & paying interest on loan. I should use ITR-1 (SAHAJ).

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Abhishek Ranjan Singh

Abhishek Ranjan Singh (Expert)
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20 June 2011 ITR-1 is only for salary & Interest income.

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