In case where the only property owned is Self Occupied Property having annual value nil, can ITR I be used for assessment year 2010-11 or can it be used only for positive income from SOP.
3 Replies
CA. Pradeep Nayak
(Not In Practice)
(1408 Points)
Replied 30 July 2010
ITR-1(SARAL-II) can be used by assesse's having income/(loss) from only 1 house property. The said house property can be either SOP or LOP. But there should not be any carry forward or brought forward loss.
Sunil
(Trader)
(2611 Points)
Replied 01 August 2010
Thanks. The only problem I find in this form is that you simply have to write 0 against the column for Income from HP. In the excel utility I downloaded there does not seem to be any Schedule S for Salary or Schedule HP for House Property or even the Schedule for OS. Is the front page the only are where we populate the figures? Seems odd as normally department uses cumbersome forms?
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