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Which ITR form to use 4 housewife having Bank interest incom

Seth (M) (148 Points)

05 July 2010

Hello,

Which ITR form should be used for filing returns for a housewife who has income ONLY from interest of Bank Savings and Fixed deposit account???

Please let me know,.

Thanks,

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10 Replies

SSG (1936 Points)
Replied 05 July 2010

For filing income tax return for A.Y. 2010-11, you should use Saral II form.

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Seth (M) (148 Points)
Replied 05 July 2010

Hi, Thanks for the prompt response,

But isn't that form for salaried employees only??

Aditya Maheshwari (CA in Practice) (35867 Points)
Replied 05 July 2010

SARAL - II (ITR - 1) can be used. It can used if u have salary income or income from house property (however u should not have more than one house) and if u have interest income.

CA Amit Kumar Shrivastava (CHARTERED ACCOUNTANT) (104 Points)
Replied 05 July 2010

I am agree with aaditya. Saral-2 (ITR-1) can be filled by the persn having income from Salary, House Property & interest from Bank

Kalpesh Chauhan, (Tax Assistant (Accounting Technician CA FINAL CS PROF. PROG. B.Com)) (8310 Points)
Replied 11 July 2010

Kalpesh Chauhan

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Return of income to be filed by different assesses in different forms of return of income

New ITR Forms

Subject

ITR- 1 [ i.e Saral II]

For individuals having income from salary , one house property ( excluding loss brought forward from previous years) and income from other sources (not being winnings from lottery income from other sources )

ITR- 2

For individuals and HUFs not being business/professional income.

ITR- 3

For individual/HUFs being partners in firms and not carrying out business or profession under any proprietorship

ITR- 4

For individual/HUFs having income

from proprietary business or profession

ITR- 5

For firms, AOPs, BOIs

ITR- 6

For companies other than companies claiming exemption under section 11

ITR- V

Where the data of the return of the income/ Fringe benefits in forms ITR-1, ITR-2, ITR-3, ITR-4, ITR-5 and ITR-6 transmitted electronically without digital signature.

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R.S.G. (student C.A. final b.com m.com) (41 Points)
Replied 01 August 2010

saral-II(ITR-1) will be applicable for income from other sources.

RSG

Sunder (Manager) (95 Points)
Replied 03 August 2010

Originally posted by : R.S.G.
	saral-II(ITR-1) will be applicable for income from other sources. RSG

Unders similar circumstances (No job for Housewive, had interest income and one AIR), I filed ITR2 instead of ITR1. How big a problem is this? Do I need to file Amended return?

Thank You

Sunder

Krishnamurthy (Founder) (54 Points)
Replied 17 September 2011

Hi,

My wife is a housewife with only interest income of Rs 3,37, 000. She has TDS of Rs 27000 for the AY 2011-12 also an investment of Rs 1,00,000 to fully use the exemption under 80C. My questions are:

1. What will be the tax for AY 2011-12. ? Should the returns be filed with ITR-1 or ITR-4 ?

2. She has not filed the Returns yet and planning to file it by 30th Sept 2011. Is it ok considering that there will be refund claims ?

Regards, Krishnamurthy