Dear Friends,
Today i am filling a ITR 1 from downloading excel /Pdf utility from Income tax website. I am surprised that in that form there were no columns for deductions under section 10 like HRA . So pls tell how to proceed with this problem.
Ravikant
(Accountax)
(6285 Points)
Replied 15 July 2011
u have to fill the net income from salary , i.e. taxable salary,,
Naveen.N
(student)
(1021 Points)
Replied 15 July 2011
U HAVE TO FILL THE NET INCOME SALARY I.E., AFTER SHOWING ALL DEDUCTIONS U/S 10 AND PROFESSIONAL TAX.
CS,CA F,Numrologi TusharSampat
(CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)
(85930 Points)
Replied 15 July 2011
| Originally posted by : Naveen.N | ||
 |
U HAVE TO FILL THE NET INCOME SALARY I.E., AFTER SHOWING ALL DEDUCTIONS U/S 10 AND PROFESSIONAL TAX. |
 |
AGREED.
Mukesh Kumar Singh
(CA-FINAL)
(4094 Points)
Replied 15 July 2011
vkbothra
(Learning )
(690 Points)
Replied 15 July 2011
in ITR-1 you have to show only Net SALARY
and
if you want to show allownces of u/s 10, then plz use ITR-2, in this you can fill all other details too
:)
@*CS Siddharth Bumb. *
(B.Com, CA Final, CS )
(5270 Points)
Replied 16 July 2011
agree with all.put net salary...
CA Bharat Aggarwal
(CA)
(283 Points)
Replied 16 July 2011
You can Downlaod New Income Tax Return Forms for the A.Y. 2011-12 from the folowing link
https://tax-india.blogspot.com/2011/06/new-income-tax-return-forms-for-fy2010.html
CA. Manav Goel
(CHARTERED ACCOUNTANTS)
(351 Points)
Replied 16 July 2011
Dear Suman,
If u want to file ITR-1, u hv to show in the return net income from saly after deducting all allowances u/s 10 and deductions u/s 16.
But if u want to show the allowances u/s 10, u can file ITR-2.
It is better to show allowances u/s 10 for the person who want to file return for taking the loan.
Regards
Manav Goel
Manoj Bhatia
(Audit Officer)
(52 Points)
Replied 18 July 2011
For the purpose of filing return in the form ITR 1, you have to see in the form 16, column Income chargeable under the head "Salaries", which is given by your employer. The given heading is after Allowance to the extent exempt under Section 10 and Deductions for (a) Entertainment Allowance and (b) Tax on Employment. And that amount is which you have to show in the column income from the salaries.
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
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