Nil income tax return

This query is : Resolved

Ravi (Querist)
Follow

01 August 2014 My mom received a Salary 1,80,000 (in cash) during the FY 13-14 from employer.
Employer has not deducted any TDS from her salary. Employer issued salary certificate only .
My mom has invested some amount in share market in March 2014. (ie. near about 20,000/-)
I want to file income tax return online please guide me following.
Which form to be used ?
Where I have to show share market amount and its nominal profit (ie. near about Rs. 500/-) ?
She have received nominal interest from saving account ?
I want to file nil return.
Please guide me.

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
Follow

01 August 2014 Since your mother's salary is not more than the taxable slab no TDS was required to be made by the employer. You can file ITR-1 (Sahaj) showing salary income and share market and interest on savings bank account under the head income from other sources.

Savings bank interest is exempt upto Rs. 10,000/- u/s 80TTA.

Message likes : 1 times

Ravi

Ravi (Querist)
Follow

01 August 2014 Thanks Dear Mr. Abhishek, Can i file ITR for FY 2012 - 13 & FY 2013 - 2014 by today. (ie. after 31.07.2014)

Upgrade to CAclubindia Pro. Subscribe Now!

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

02 August 2014 beg to disagree. if you want to file the return, then kindly use ITR2. ITR1 is not for share market income - be it capital gains or business income

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

02 August 2014 Ravi,

you can file for FY 2012-13 upto 31 March 2015.

Message likes : 1 times

Ravi

Ravi (Querist)
Follow

03 August 2014 Thanks Dear Mr. Nikhil Kaushik...

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

03 August 2014 you are welcome Ravi...best of luck