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Discussion > Income Tax > ITR >

ITR for salaried person

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Chartered Accountant


[ Scorecard : 189]
Posted On 14 June 2007 at 11:37 Report Abuse

Which ITR form is applicable for a person having only salary income?Is it ITR 1 or ITR 2?

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Kaustuv
Chartered Accountant


[ Scorecard : 1595]
Posted On 15 June 2007 at 00:20

for only salary income it would be ITR 1




Anita
Service


[ Scorecard : 26]
Posted On 15 June 2007 at 00:56

ITR forms in excel format required urgently



saravanan
proprietor


[ Scorecard : 69]
Posted On 15 June 2007 at 01:40

ALL ITR NEW FORMS ALREADY PUBLISHED IN EXCEL FORMAT



CA. Gurdeep Singh Chawla
C A


[ Scorecard : 7061]
Posted On 15 June 2007 at 02:09

For salaried person having only interest income then ITR-1. If other income except business income then ITR-2. If business income also, then ITR-3(being partner) or ITR 4(being proprietory business), as the case may be



CA. Bhabani , FCA, DISA, DIRM
Chartered Accountant


[ Scorecard : 189]
Posted On 15 June 2007 at 06:00

Thanks for early reply.But my doubt is a person has only salary income and no other income.I think he should use ITR 2.Pl share your views.



CA. Bhabani , FCA, DISA, DIRM
Chartered Accountant


[ Scorecard : 189]
Posted On 15 June 2007 at 06:03

Thanks for early reply.I think ITR 1 applies for a person having salary and interest income.But if one has only salary income then probably he should use ITR 2.Pl share your views.



Kaustuv
Chartered Accountant


[ Scorecard : 1595]
Posted On 16 June 2007 at 00:07

according to Rule 12 :-


(a) in the case of a person being an individual where the total income includes income chargeable to income-tax under the head “salaries” or
income in the nature of family pension as defined in the Explanation to clause (iia) of section 57 but does not include any other income except income by way of interest chargeable to income-tax under the head
“income from other sources”, be in Form No. ITR-1 and be verified in the manner indicated therein;



(b) in the case of a person being an individual [not being an individual to whom clause (a) applies] or a Hindu Undivided family where the total income does not include any income chargeable to income-tax under the head “Profits or gains of business or profession”, be in Form No. ITR-2 and be verified in the manner indicated therein;


Dear Sir, I think that ITR 2 would be used by an individual/HUF NOT having sec. 28 income but having income in ANY other head. but ITR 1 is essentially limited to INDIVIDUAL ONLY having salary and/or family pension and/or interest and nothing else. so I think that an individual having only salary income would be using ITR 1 and not ITR 2.

please share your views on this matter.

with regards
Kaustuv



CA. Bhabani , FCA, DISA, DIRM
Chartered Accountant


[ Scorecard : 189]
Posted On 16 June 2007 at 04:41

Thanks for your reply.As I understand ITR1 is for a person having Salary and Interest (Not salary or interest).So still I think that for a person having only salary income ITR 2 should be used.Pl reply.



Amlesh Singh
Student


[ Scorecard : 42]
Posted On 16 June 2007 at 07:52

ITR 1 is applicable for persons having income from salaries and interest.


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