Income tax return for a.y.12-13 & 13-14
Querist : Anonymous
My query is whether an assessee who is filing the return for the first time, file return of three years together??
Whether he should file the return for a.y. 14-15 first and thereafter for previous years??
You can file the return for the AY 2014-15 and 2013-14 only. You can't file the return for the AY 2012-13, it is time barred.
Querist : Anonymous
Hra, Transport and other allowances are exempt u/s 10, in this case ITR 1 is required to file.
Exempt income means interest income, dividend income, agricultural income etc., if these income are more than 5000 then ITR 2 is required to file.
However, Deduction u/s 80TTA is available upto 10000 for intt on SB a/c
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