Basic query regarding itr form-1 (s)

This query is : Resolved

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Guest (Querist)

27 July 2011 Dear Friends / Experts,

Please see my queries and give your reply :

Queries

1. A’s salary income after deductions is less than the taxable limit. However, A wants to voluntarily file IT Return. Whether A can provide employer’s TAN, name and salary income in the TDS fields, though Form 16 was not applicable and issued. By filling details in TDS fields, will there be any violation or please advise the position.

Ans : ...............

2. Which ITR Form should be used by X, a salaried individual for providing the speculation loss on share trading. X does not have any other activity except employment and share trading (INTRA-DAY only through broker) ?

Ans : ...............

I will wait to hear from you.

Thanks.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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27 July 2011 1. A’s salary income after deductions is less than the taxable limit. However, A wants to voluntarily file IT Return. Whether A can provide employer’s TAN, name and salary income in the TDS fields, though Form 16 was not applicable and issued. By filling details in TDS fields, will there be any violation or please advise the position.

Ans : No need to mention the same in TDS field. As it is needed only when any tds has been deducted. Even if yu mention only the salary details and NAme and TAN of employer there will not be any violation.

2. Which ITR Form should be used by X, a salaried individual for providing the speculation loss on share trading. X does not have any other activity except employment and share trading (INTRA-DAY only through broker) ?

Ans : ITR4

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