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Query on itr-1

Niharika (Student CA Final ) (77 Points)

26 July 2014

Hello Friends!

I need your help on below queries while filing ITR-1.

1) Suppose, House is not registered on the name of my client (as it is registered in his Mother's name) so which option should be choose (Self Occupied or Let out) while filing ITR-1 (Income from Other Person)?

2) My client had RD with HDFC bank last year (2012-13) for Rs. 3500/- (for 15 months) and in FY 2013-14 he gets maturity amount of Rs. 55684/- in his bank statement. So, should we disclose interest income of Rs. 3185/- in "Income from Other sources" while filing ITR-1?

3) After uploading ITR-1 online, are we supposed to send hard copies of the same to Banglore office or not? if yes, then which documents needs to be send?

Please help me in this reagrd.

Thanks

Niharika Sharma

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2 Replies

CA Saloni (Manager-Accounts & GST Consultant) (5124 Points)
Replied 26 July 2014

1. Dear if a house is not registered in the name of a particular person, he is not supposed to show it in his ITR.

2. Yes, interest income needs to be shown in ITR, u/h IOS

3.You need to send only a signed copy of acknowledgement to CPC bangaluru within 120 days from filing of the return.

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Mihir (Wealth Manager) (5293 Points)
Replied 26 July 2014

Show interest income from RD in your ITR under income from other sources. And after filing ITR, you will receive acknowledgement ITR-V of the same. You take two print out, sign both of them, and keep one with you and send the other to bangalore CPC. No other documents need to be attached.