Which ITR should I use for an individual (59) with Salary, Dividend and other incomes. Total income above Rs,50 lakhs.
7 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 10 August 2021
Salary , Dividend and Other income ? . what type of Other income ?. please clarify .
Ganesan B
(EXECUTIVE IN NBFC)
(100 Points)
Replied 10 August 2021
Interest on deposits with banks and companies.
prasad Nilugal
(3914 Points)
Replied 10 August 2021
You can file ITR 2 . show dividend and internet income under Income from other sources .
prasanth
(ipcc)
(209 Points)
Replied 10 August 2021
Why not ITR 1 , salary and other sources also vailable in ITR 1 ,
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 10 August 2021
His Income is above 50 lac , so ITR 1 is not available , who's income is more than 50 Lac .
debora M
(BUSINESS DEVELOPMENT MANAGER)
(1697 Points)
Replied 10 August 2021
Assuming that you have income only from salary and dividends, you may continue to declare income in ITR-1. Disclosure may be made under head 'Salary” and “other sources”. Notably, TDS has not been deducted on dividends because the same is less than Rs 5,000. However, you have to disclose the dividend income in the ITR.
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