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Regarding itr-1

Tax queries 639 views 3 replies

Hi,

I m Anurag from Delhi i m filing my ITR from F.Y 2011-12 as per my salary.

Now in F.Y 2012-13 there is a query regarding tax payment is that my father has taken a commercial vehicle loan any repayment of same deduct by ECS from my bank A/c where my salary been credited my father providing me funds for loan payment.

now my query is that at the time of calculation of tax i need to calculate tax on those amount which i recd from my father. ( there is incoming & outgoing of same available & my bank reflect only with my salary)

 

Plz suggest.....

Replies (3)

No need to add amount received to Salary Income

No Loan amount is not income so not required. But please keep the Loan Confirmations handy so that you can produce those if  the department raises any query

no need to add amount in income go with ITR-1


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