Exempt income more than taxable income
This query is : Resolved
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24 July 2022
Sir,
My taxable income is 8 lac but I received 55 lac as nominee after death of my relative from bank, which I believe should be declared under Exempt Income as inheritance.
Under this circumstance, should I fill ITR 1 or ITR 2.
Appreciate your response.
Regard
My taxable income is 8 lac but I received 55 lac as nominee after death of my relative from bank, which I believe should be declared under Exempt Income as inheritance.
Under this circumstance, should I fill ITR 1 or ITR 2.
Appreciate your response.
Regard
24 July 2022
File ITR 2.
24 July 2022
Thanks Dhiraj sir for your reply. I don't have any share, MF sale/purchases. Should I still go for ITR 2
24 July 2022
Yes, due to aggregate income more than 50 lakhs, ITR 1 is not eligible.
26 July 2022
Most welcome ...
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