Can ITR1 be filed if Co-op Bank shares are held by assessee?
The Income Tax filing website says ITR1 is applicable:
For Individuals being a Resident (other than Not Ordinarily Resident) having Total Income upto Rs.50 lakhs, having Income from Salaries, One House Property, Other Sources (Interest etc.), and Agricultural Income upto Rs.5 thousand (Not for an Individual who is either Director in a company or has invested in Unlisted Equity Shares)
The question really is - are Co-op Bank shares considered as 'Unlisted Equity Shares'. Is there a definition of this term and if yes, under which section / rule
If ITR1 is not allowed the assessee will be forced to use ITR2
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