Sunetra Sen (Manager) (34 Points)
10 July 2013I have filled ITR1 and efiled my return for the current year. However, I realise that my excempt allowances under section 10 (such as HRA, medical reimbursement etc.) add upto more than 5000.
Do I need to revise and resumbit my return on ITR2? 
Please can you share your thoughts?
Thanks & regards,
Sunetra
KSV Manoj
(CA Final CS Professional and BCOM Student!!)
(83 Points)
Replied 11 July 2013
What all sources of ncome do you have????
If it is only salary , one house property and interest income , it is enough just to revise the itr 1 again and e file it....
Sunetra Sen
(Manager)
(34 Points)
Replied 11 July 2013
My sources of income are related to salary and interest. However my section 10 deductions (HRA and Medical) exceed 5000. Can I fill up my returns using ITR-1 or do I need to go for ITR-2?
Thanks,
Sunetra
CA ABHISHEK
(JOB)
(82 Points)
Replied 12 July 2013
You are required to file revised return in form ITR-1.
CA Mayank
(CA)
(180 Points)
Replied 12 July 2013
How will you revise ITR-1. There is a coloumn in ITR-1 for exempt income. In that will you mention the HRA exemption which is more that 5000
CA ABHISHEK
(JOB)
(82 Points)
Replied 12 July 2013
ITR 1 has space on first page where you can select option-" Original" or " Revised" , select " Revised option" and also input original ITR filing date with acknowledgement number of original return. Also select section 139(5) under " Section" for return filed. Re-calculate your " Income from salary " after taking into account all deductions and fill it in the row provided for.
J S BHAVSAR
(CONSULTING)
(1288 Points)
Replied 21 July 2013
Is PPF account interest credited to PPF account a part of Exempt Income to be declared?
Sunetra Sen
(Manager)
(34 Points)
Replied 21 July 2013
According to a recent article in Times of Now, PPF will form a part of exempt income. If this amount is greater than 5000, then you have to fill up ITR-2.
J S BHAVSAR
(CONSULTING)
(1288 Points)
Replied 22 July 2013
Article from Times of India is good to read from media side.
Is there any CBDT clarification on such accrual of tax free interest (not cashed) for resident individuals?
heena
(student)
(86 Points)
Replied 27 July 2013
does travelling allowance and hra will also be considered for rs.5000 limit for filling itr 2?
VENKATESH.P
(ACCOUNTANT)
(21 Points)
Replied 27 July 2013
IS INTEREST FROM NSC MATURED TO BE SHOWN UNDER EXEMPT INCOME ? IF IT IS MORE THAN 5000 WHETHER ITR 2 TO BE USED INSTEAD OF ITR1.
IF A PERSON EARNS SALARY BUT BELOW TAXABLE INCOME ,COMPANY HAS NOT ISSUED FORM 16
WHETHER TAN NO & COMPANY NAME SHOULD BE MENTIONED UNDER FORM 16 ISSUED BY EMPLOYER COLOUM
CA ABHISHEK
(JOB)
(82 Points)
Replied 30 July 2013
| Originally posted by : heena | ||
 |
does travelling allowance and hra will also be considered for rs.5000 limit for filling itr 2? |
 |
HRA & travelling allowance is not a part of exempt income, they are allowances and are exempt as upto certain limit, so they does not form part for Rs.5000 exemption limit
CA Sagar Mohandas
(Practising )
(39 Points)
Replied 19 September 2013
CBDT has not given any clarification for exclusions of exempt income in calculating the threshold limit of Rs.5000 for using ITR1. There is no reason to exclude allownaces received or interest of PPF in calculating the amount of exempt income.
CAclubindia
