I have income only from interest from FDs and dividends paid by companies on shares. Which ITR forms should I fill? Possibly SARAL-II? Thanks, RAKESH
5 Replies
pankaj
(advocate)
(349 Points)
Replied 14 May 2010
Yes You can use this form, the below guilde help to choose the form of SARAL-II. You can go through it
Who can use ITR-1 / SARAL - II Return Form
This Return Form is to be used by an individual whose total income for the assessment year 2010-11 includes:- (a) Income from Salary/ Pension; or
(b) Income from One House Property (excluding cases where loss is brought forward from previous years); or
(c) Income from Other Sources (Excluding Winning from Lottery and Income from Race Horses).
Further, in a case where the income of another person like spouse, minor child, etc. is to be clubbed with the income of the assessee, this Return Form can be used only if the income being clubbed falls into the above income categories.
3. Who cannot use ITR - 1 / SARAL - II Return Form
This Return Form should not be used by an individual whose total income for the assessment year 2010-11 includes,-
(a) Income from more than one house property; or
(b) Income from Winnings from lottery or income from Race horses; or
(c) Income under the head “Capital Gains”, which are not exempt from tax, e.g., short-term capital gains or long-term capital gains from sale of house, plot, etc.; or
(d) Income from agriculture in excess of Rs. 5,000; or
(e) Income from Business or Profession.
roopa
(A.C.A)
(33 Points)
Replied 26 May 2010
yes, you can file ur return in Saral II (ITR-1) if you have income from FD Interest and Dividend.
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