Uday Kiran (Asst. Manager (Accounts)) (45 Points)
22 August 2013Question:
If Person having Salary income(20,00,000) and interest (60,000) then,
whether ITR 1 Or ITR 2 applicable?
Thanks & Regards
FATEMA
(CHARTERED ACCOUNTANT)
(719 Points)
Replied 22 August 2013
Your case fits in ITR1 and ITR 2 both..but logically speaking when all conditions of ITR 1 are satisfied we do not move to check the conditions of ITR 2...so in my opinion it should be ITR 1.
Still, get confirmation from experts of the forum.
Fatema
Manikanth
(Chartered Accountant)
(342 Points)
Replied 22 August 2013
ITR-1 is applicable for Individuals with Income from Salary, 1 House Property and Other Sources, and also if u have any Exemption income more than 5000/-, then use ITR-2
CAclubindia
