Itr
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 August 2013
Exemption amount Under Section 10 (HRA) is 20000 So please advice me whether to file ITR 1 or ITR 2
03 August 2013
You can file ITR 1. HRA Exemption is not treated as exempt income. It is a part of Income from Salary.
03 August 2013
dear sir,,
it was really confusing for me since begining some suggesting that ITR1 and some will be on ITR2
Words stated in Notification 34/2013 dated 01.05.2013 is
"if income not chargeable to tax " exceeds Rs.5000 we cannot use ITR1
So i came to conclusion that ITR2 is applicable in such cases
it was really confusing for me since begining some suggesting that ITR1 and some will be on ITR2
Words stated in Notification 34/2013 dated 01.05.2013 is
"if income not chargeable to tax " exceeds Rs.5000 we cannot use ITR1
So i came to conclusion that ITR2 is applicable in such cases
03 August 2013
Is it okay to do so..
actually i have done in one case like
1)salary-exempted hra=income chargeable under salaries
2)exempted hra shown in exempted income in "sheet EI"
even though in my firm ITR1 is following for such cases but i cannot able to agree with that and filed ITR2
whatever i guess it will be okay for me as
instead of ITR1 , ITR2 can be filied
But viceversa will create problem..
So i guess i am in safe path
Do clarify
Is it okay to do so..
actually i have done in one case like
1)salary-exempted hra=income chargeable under salaries
2)exempted hra shown in exempted income in "sheet EI"
even though in my firm ITR1 is following for such cases but i cannot able to agree with that and filed ITR2
whatever i guess it will be okay for me as
instead of ITR1 , ITR2 can be filied
But viceversa will create problem..
So i guess i am in safe path
Do clarify
03 August 2013
In my view exempted HRA is not rquired to be shown in exempted income. It is not an exempted income. You are getting deduction based on payment for HRA. It is a part of salary. We are required to show the amount chargeable under the head Income from Salaries after deduction all exempted allowances and the same not to be shown in exempted income sheet.
If we treat HRA and say travelling allowances as exempted income than almost everybody will have to file ITR 2.
Exepted income means Income like Interest on PPF, Dividend Income, Agricultural Income, Bank interest upto Rs 10000/- etc.
If we treat HRA and say travelling allowances as exempted income than almost everybody will have to file ITR 2.
Exepted income means Income like Interest on PPF, Dividend Income, Agricultural Income, Bank interest upto Rs 10000/- etc.
03 August 2013
Yes when in doubt file ITR 2. Individual filing ITR 1 can file ITR 2 but person who are required to file ITR 2 can not file ITR 1.
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