Itr-1 other income query

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

21 July 2017 I work in small pvt sch & get 1 lakh in a year which I get through bank transfer as salary. I am not having any income statement or epf or any other deductions. My mother is a pensioners in bank account and income is low (non taxable) & so does not file return (she does not have pan even). She also contributes in family expenses, money is transferred in my account, which I withdraw if needed or it remains deposited & earns interest. It is very low though, say 1 lakh in a year & interest in s/b on accumulated amount (over 4-5 years) is 15k in current year. I have separate FDs (accumulated over several years) is 50k & tds (since I did not deposit 15G/H in time) is 5k. All my & my mother income, even combined including interests, is less (almost exempt). I have to file itr-1 to get the bank tds refunded. Please help me on following: 1. Will I show 1 lakh in salary income. In this case, can I leave 80c empty even though it may be a little amount. 2. Will I show other source income as 1 lakh (received in my a/c from my mother's pension a/c) + 15k (s/b intt) + 50k (fd intt) & show 10k in 80tta. 3. This makes the correct refund amount, but is it correct technically.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
Follow

22 July 2017 1. Yes you can show same in salary. Also leave 80 C blank. 2.Yes same to be show in other sources. 3. Yes it is correct.....

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

22 July 2017 Thanks.
But, what about 80tta.
(1) Can I show 10k in 80tta out of 15k of other income on account of s/b intt.
(2) Is it ok to show 1 lakh received from mother ad other income or it should go in exempt income.
(3) In case, it goes in exempt income, can I fill itr-1 for 1 lakh exempt income or I need to fill itr-2.
Please reply. This would probably complete my query. I will not disturb further.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
Follow

22 July 2017 Yes deduction of 10000 in respect of sb int will be available u/s 80TTA

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok