14 November 2014
Dear experts
For the A/Y 2014-15, if exempted income exceeds Rs.5000 then ITR2 is required to file.
I have salary income. conveyance allowance Rs 800pm is exempted from tax. Also HRA is exempted from tax. They exceeds Rs5000.
Does that mean i should file ITR 2 or would ITR1 serve the purpose???
Thanks in advance
14 November 2014
ITR-1 is specifically provided for Salary income. HRA & Conveyance allowance is comes under salary income only so filling ITR-1 is meets the criteria, exempted income of Rs.5000 not to be considered for HRA & Conveyance allowances
CAclubindia
