In the case we have come across, the person is salaried employee but his salary is below Rs 1.5 lacs for F Y 2011-12
He has got Interest on Fixed deposits with a bank.
So which ITR to be used for E Filing. ITR 1 or 2.
Kindly guide.
rajesh (Asst Manager) (71 Points)
30 July 2012In the case we have come across, the person is salaried employee but his salary is below Rs 1.5 lacs for F Y 2011-12
He has got Interest on Fixed deposits with a bank.
So which ITR to be used for E Filing. ITR 1 or 2.
Kindly guide.
Tehsinkhan Pathan
(CA CMA DISA(ICAI) B.COM)
(3956 Points)
Replied 30 July 2012
Since, a person has only salary and IFOS income so ITR - 1 wil be applicable....
But if total income before claiming deduction under Chapter - VIA does not exceed basic exemption limit then such person is not required to file return
KIYOSH
(TAX CONSULTANT)
(332 Points)
Replied 30 July 2012
| Originally posted by : Member of CCI | ||
 |
Since, a person has only salary and IFOS income so ITR - 1 wil be applicable.... But if total income before claiming deduction under Chapter - VIA does not exceed basic exemption limit then such person is not required to file return |
 |
KIYOSH
CAclubindia
