Hra exemprtion itr 1 or itr2 to be shown

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

11 June 2013 Please confirm if my understanding is correct for AY 13-14--

Any salaried employee if he is getting exempt income under sec 10 like HRA, LTA, conveyance allowance, need to file ITR-2, if this exempt amount exceeds Rs 5000/-.

Does PPF interest and Gifts received is also considered exempt income or tax free income. Are they required to be shown in exempt income "Section EI"

CA Parul Saxena

CA Parul Saxena (Expert)
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11 June 2013 If salaried employee is getting exempt income even then he is supposed to file ITR-1, PPF interest and gift received also considered as exempt income....

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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11 June 2013 PPF interest is exempt u/s 10(11) hence to include in Schedule E1. But gift is not covered in section 10 hence need not show in Schedule E1.

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Querist : Anonymous

Querist : Anonymous (Querist)

11 June 2013 Parul/ Chackrapani ji,
For ITR 1 this year condition is that if exempt income is more than Rs 5000/- then return has to be filed in ITR 2.

This mean, asseessee, getting HRA exemption of even Rs 50,000/- will be required to file return in ITR2. And need to show HRA exemption ( as reflected in form 16) need to be shown in schedule E1

Please confirm.

Querist : Anonymous

Querist : Anonymous (Querist)

11 June 2013 This mean for simple salary income also we will not be able to use ITR-1, but ITR 2 has to be filed.
And Exempt portion need to be shown in Schedule E1
Please confirm