Income limit for itr
This query is : Resolved
12 July 2013
IS THERE ANY INCOME LIMIT FOR FILING ITR-1 AND ITR-2.
ITR 4 provides the need to furnish Balance Sheet if income is above Rs. 25.00 lacs p.a.
IF SALARY INCOME IS ABOVE 60.00 LACS CAN THE PERSON FILE ITR-1 IF HE SATISFIES OTHER PRESCRIBED CONDITIONS FOR FILING ITR-1
ITR 4 provides the need to furnish Balance Sheet if income is above Rs. 25.00 lacs p.a.
IF SALARY INCOME IS ABOVE 60.00 LACS CAN THE PERSON FILE ITR-1 IF HE SATISFIES OTHER PRESCRIBED CONDITIONS FOR FILING ITR-1
CMA Ramesh Krishnan
(Expert)
12 July 2013
For salary income there is no requirement of Balance sheet, what ever your salary income ( Rs.60 lakhs also), you can file ITR -1 & ITR 2 also the same condition.
Only ITR -4 business & professional income required the balance sheet requirement
Only ITR -4 business & professional income required the balance sheet requirement
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