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It1 and itr2

U K Prabhu (Banking Consultanat) (46 Points)

12 June 2014

I am Pensioner having taxable Income+Interest on Bank deposits. Also having Dividend Income credited through Trdaing account. Thus income portion not to be included ( which need not to be added to my Gross income ) will be up to Rs,10000/=being interest on Savings bank deposit and Divided Income.

There is a small coloumn in last page of ITR1 where these exempted or not to be included income is to be furnished.However this coloum wil not allow us to furnish if the amount is more than 5000/= and there is a message to file the ITR2 which is too much schedules to fill.

If some can please enlighten.

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Arpit Pachisia (CA) (734 Points)
Replied 12 June 2014

Hello Prabhu,

You had to file ITR-2, there are all such schedules as of ITR-1, need not to file unnecessary information, it's not that hectic and you can't ignore this while seeing all such schedules. As your saving bank deposit and dividend income is higher than of Rs.5000 so you had to file ITR-2, and need not to ignore such income which is already exempt while seeing such schedules.

Thanking you

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