Itr for fy 2010-11

This query is : Resolved

vinay (Querist)
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23 August 2012 Hi,
I don't have much knowledge of Income Tax.I have not filled ITR for FY 2010-11 and want to apply it online.
My income as per form 16 A is-
TOTAL- 322695(includes HRA and LTA)
Paid Tax as TDS-15520

I have some income from part time Insurance that's Rs5730 and TDS rs 580

Total tax now is as per form 26AS is 16100.
MY investment under 80C is Rs 1 Lacs

I am facing few problems to file ITR-
1- Is ITR4 to be filled or ITR1 is sufficient?
2-Where to claim HRA and LTA in Sahaj?
3-Due to delay am I going to be panalised as I have paid all taxes?

Thx.

Ahamed

Ahamed (Expert)
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24 August 2012 Being a receipt of Rs. 32,22,695. You could easily approach an auditor, where they might be charging only 1500 like that...

Bcoz your TDS is Very short when compared with your income.. therefore you may have to pay Interest U/s 234.

CA Amit Jaiswal

CA Amit Jaiswal (Expert)
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24 August 2012 1. you should file ITR-1 as you have business income.

2. HRA and LTA are exempted allowances.

3. You can file the ITR as belated return. No Penalty for this (Provided you have paid all taxes timely).

Plz chk the amt mentioned as income.

All the Best.....

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vinay

vinay (Querist)
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24 August 2012 Hi Ahmad and Amit Sir,

I have corrected that figure(thx amit sir for pointing out).

Thank Sir