22 June 2014
Respected Sir, I am employee of Indian Oil Corporation,i received as sum of Rs. 194950/- from employer as self lease instead of HRA. It is shown as "Annual rent received" and a sum of Rs. 58485/- is deducted from it, net amount shown in form 16 is Rs.136465/-. Now which ITR i have to file, ITR 1 ot ITR 2? If ITR 1 than Rs.136465/- is shown under income from house property or income under head salary?
22 June 2014
Under employment what ever money received by you from employer that is consider as Salary income only. so it will be salary income and file the ITR-1
23 June 2014
it consider as Salary income due to amount received from employer. and you file ITR-1 if your exempt income is Rs. 5000/- otherwise ITR-2.
CAclubindia
