ITR 1 and ITR 2

This query is : Resolved 
 

(Querist)
25 May 2010

Sir can u please explain the difference between ITR 1 and ITR 2.

And when to use ITR 1and ITR 2

Kumar.


MK GUPTA (C.A.) (Expert)
25 May 2010

ITR - I is used for salary income and Ineretst income
ITR - II is there for salary + income from other sources

CA.Pujah (Expert)
25 May 2010

ITR - I is used if a person has only salary income and Ineretst income
ITR - II is used if a person has salary, income from other sources & Income from House property

CA. BIJENDER KR. BANSAL (Expert)
25 May 2010

Inspite of above reply
ITR-1 is used by Individual
ITR -2 is used by Individual and HUF

CS Richa Sharma (Expert)
25 May 2010

Agree.

MK GUPTA (C.A.) (Expert)
26 May 2010

Dear All

ITR - II is used if a person has
salary income
income from other sources
Income from House property
Capital gain / Loss on sale of investments/property

Kumar (Querist)
26 May 2010

thanks but than pls clarify a person having income from other source can use either of the forms.

O.D.SHARMA (Expert)
26 May 2010

only form 2

CMA Arif Farooqui (Expert)
27 May 2010

For A/Y 10-11, if he has income from horse race or from winning lottery then ITR 2 otherwise he can use Saral 2 (ITR 1)



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