Hi,
I am eligible to file using ITR-1 but I used both ITR-1 and ITR-2 and entered the same values and saw that with ITR-2, I am getting a higher refund than with ITR-1.
Looking deeper, found that in ITR-2 when I specify income from house property, I can also specify "Tax paid to local authorities" ..... 30% of that amount is automatically deducted from the Income-from-HP
and so I am getting a higher refund with ITR-2.
(Note, I did not fill any of the other schedules in ITR-2 such as BYFL, CG, etc.)
This portion ("Tax paid to local authorities") cannot be specified in ITR-1 and so it does not come in the calculation and so the refund amount is less.
Am I expected to do compute this 30% deduction and then enter that amount in ITR-1?
Could someone check and elaborate?
thanks
Jeevan
CAclubindia
