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ITR 1 and ITR 2 (Income Tax)

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This query is : Resolved



( Author )
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

( Author )
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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