Itr form to use .?

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 July 2014 I am a PSU employee. I have loss from house property. can I submit my IT return for AY 14-15 through ITR 1.

Thanks

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

15 July 2014 Yes. You can file ITR1. I think the loss must be due to claiming deduction of Interest on housing loan.

Message likes : 1 times

Ganeshbabu K

Ganeshbabu K (Expert)
Follow

15 July 2014 Yes you can file ITR1 if loss under house property is full setoff against other heads in this year itself and there is no loss to be carried forward to next years
.
Then you can go with ITR1
.
.
But if loss under HP is still left to be Carry Forward to Next year for Set-off Recommended to use ITR-2
.
.

Message likes : 1 times

Upgrade to CAclubindia Pro. Subscribe Now!