Which itr do i have to use

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 July 2015 Hello,

I am an officer in the merchant navy and I am an NRI as defined in income tax rules for the FY 14-15. I work for a foreign company and my salary is paid to me in USD and received in my NRE account in India.
I have some income in india from property and interest received from from my bank.

Please advise which ITR should i use to file my return ?

Thank you,

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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05 July 2015 You should use ITR2 for filing your Income Tax Return.

Message likes : 1 times

Nikhil Kaushik

Nikhil Kaushik (Expert)
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05 July 2015 why? as an NRI, it is not required to file ITR-2 for these incomes. he can very well file ITR-1 to offer income from house property and interest...

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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05 July 2015 Correctly pointed out Nikhil Ji. If the conditions given below are fulfilled then ITR1 can also be filed.

ITR-1 (SAHAJ)

Who can use this Return Form?

This Return Form is to be used by an individual whose total income for the assessment year 2015-16 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 from Race Horses)

NOTE: 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 only if the income being clubbed falls into the above income categories. So if any Income is not falling in the above category then ITR1-SAHAJ can not be used.

Who can not use this Return Form?

This Return Form should not be used by an individual whose total income for the assessment year 2015-16 includes:-

(a) Income from more than one house property; or (b) Income from Winnings from lottery or income from Race horses; or (c) Income under the head "Capital Gains”; or (d) Agricultural income in excess of 5,000; or (e) Income from Business or Profession; or (f) Loss under the head 'Income from other sources; or (g) Person claiming relief under section 90 and/or 91; or (h) Any resident having any asset (including financial interest in any entity) located outside India or signing authority in any account located outside India or (i) Any resident having income from any source outside India