ITR Type to be used for the FY 2024-25

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This discussion clarifies which Income Tax Return (ITR) type to use for the financial year 2024-25, specifically for individuals with Fixed Deposit (FD) interest and capital gains from mutual fund sales. Generally, if capital gains are within the taxable exemption limit, ITR 1 can be used. However, if capital gains exceed this limit, ITR 2 is the appropriate choice. The conversation also addresses a user's concern about employer details being requested in ITR 1 when there is no salary income, confirming it's not necessary to fill if there's no salary.

R Sundararajan

R Sundararajan (Querist)

14 June 2025 ITR Type to be used for the FY 2024-25 for FD Interest and capital gains from sale of mutual fund with annual income of Rs.525000

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

14 June 2025 File ITR 1, if CG is non taxable, i.e within exemption limit. Otherwise file ITR 2.

R Sundararajan

R Sundararajan (Querist)

15 June 2025 Thank you for your reply. But, ITR 1 is asking for employer details. But my wife is not employed
Only bank interest and long term capital gains of Rs.86000 within taxable limit. While starting for e filing, only ITR 1 and ITR 4 only showing in drop-down menu. Last year I filled ITR 2 only. But it's not showing in drop-down menu

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

15 June 2025 1. ITR 1 will be useful only if you are not liable for any taxable Capital Gains.
2. If applicable, no need to select employer as there is no salary income to be declared.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

27 September 2025 Good luck..

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