ITR-1

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 March 2010 sir,
my father(Central govt employee,only salary income) has been filing his returns every year in ITR-1eventhough he had housing loan interest.Recently he came to know ITR-1 should not be filed since housing loan interest there.for AY 2009-10 he has not file his returns since no taxes due and his income is below exemption limit for PY 2008-09.so will he file ITR-2 for AY2009-10.Will it create any problem for him.please clarify my doubt.

Guest

Guest (Expert)

02 March 2010 If the income is below exemption limit, your father is not required to file income tax return.

For the earlier returns that you have filed by submitting ITR -1 can be revised if they are with in the due dates as precribed.

But you have to consider that, the exemption limit should be calculated before claiming any deductions u/s 80C,80CC,80CCC. If you have calculated the total income which is below the exemption limit,you have to verify whether the housing loan instalment is deducted or not.
If before deduction of HL Installment is below exemption limit, your father may not file the return.

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