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Which itr is to be used?

suchinder (student) (103 Points)

04 July 2014

Which ITR is to be used for filing Return of a person having Income from Salary and Rent from Land?

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16 Replies

varsha (Chartered Accountant) (68 Points)
Replied 04 July 2014

You have to use ITR-2 that covers Individual & HUF's not having income from business & Profession.

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Tribhuvan Aditya Singh (Student as well as Self-employed) (3710 Points)
Replied 04 July 2014

itr-1 should be filed...

b.t.malliarjunarao (Accountant) (68 Points)
Replied 04 July 2014

which that is for the year or assement year ?

trnghosh (sr asst) (207 Points)
Replied 04 July 2014

For salaried persion having income aboe RS 5 lac which ITR form to be used? I thinki it will be ITR-1 form. Is that right?

Tribhuvan Aditya Singh (Student as well as Self-employed) (3710 Points)
Replied 04 July 2014

@ trnghosh.... itr-1 to be filed.

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Rupesh Soni (Taxation Consultant & CA final student) (504 Points)
Replied 04 July 2014

i think itr-2 must be used

AMIT KUMAR (self occupied) (51 Points)
Replied 04 July 2014

Of coarse itr 2 .itr 1 is mainly for salaried income assessee

b.t.malliarjunarao (Accountant) (68 Points)
Replied 05 July 2014

ITR1 This Return Form is to be used by an individual whose total income for the year 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 fromRace Horses) This Return Form cannot be used by any resident having any asset (including financial interestin any entity) located outside India or signing authority in any account located outside India. ITR2 This Return Form is to be used by an individual or Hindu Undivided Family whose total income for the assessment year includes:- (a)Income from Salary / Pension; or (b)Income from House Property (including cases where loss is brought forward from previous years); or (c)Income from Capital Gains; or (d)Income from Other Sources (including 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 where such income falls in any of the above categories.