Gangadhara (Professional) (62 Points)
07 May 2010Dear Memebers,
I am bit confused...
I have 2 housing loans.. one of the house is reneted and the other is occupied by my parents. I also have income from salary. In such case which ITr to be used for the financial year 2009-10. I do not see itr 2 any more on the incometaxindia.go.in. I see new form Saral II, is this the once I housd be using.
Thanks in advance
CA Dhiraj Ramchandani
(CA, M. com)
(10823 Points)
Replied 07 May 2010
Yes, its saral II for u guys now
Gangadhara
(Professional)
(62 Points)
Replied 07 May 2010
In that case how to show the income from the rented property.. there is nothing similar to Schedule HP of ITR 2
Aditya Maheshwari
(CA in Practice)
(35867 Points)
Replied 07 May 2010
ITR I i. e. SARAL II is applicable only if there is Income from One House Property (excluding loss brought forward from previous years). Since two house property the said form cannot be used.
Rachit
(Analyst)
(913 Points)
Replied 07 May 2010
ITR 1 Saral II clearly mentions on the face of it
| [For Individuals having income from Salary / Pension / Income from One | ||||||||||
| House Property (excluding loss brought forward from previous years) / | ||||||||||
| Income from Other Sources (excluding Winning from Lottery and Income from Race Horses)] |
Hence Saral II cannot be used.
kantijain
(Chartered Accountant in Practice)
(385 Points)
Replied 21 May 2010
Dear Gangadhara,
i m totally in agreement with your concern. But one thing is very clear u cannot use Saral II(ITR_1) as it is meant for Individuals having Income from Salary / Pension / Income from One House Property (excluding loss brought forward from previous years) / Income from Other Sources (Excluding Winning from Lottery and Income from Race Horses.
ITR-2 is relevant for ur client, however the department website is not yet updated for its acceptance. i.e u cannot e-file it as of now.
Regards
Kanti Jain
CAclubindia
