Itr1/itr2

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rahul (Querist)
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23 July 2013 Dear CCI Memebres
which return have to be filled if salary income is 10 lakh & interst income is 17000.

what is the difference between itr1/itr2

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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23 July 2013 You can file ITR-1.

ITR -1 For Individuals having Income from Salary / Pension, Income from One House Property (excluding loss brought forward from previous years) / Income from Other Sources (Excluding Winning from Lottery and Income from Race Horses)]

ITR -2 For Individuals and HUFs having all sources of income except Income from business and profession

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rahul

rahul (Querist)
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24 July 2013 but if exempted income is HRA/travelling is more than 5000.what to do.
that 5000 is confusing a lot

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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24 July 2013 Then file itr-2.

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CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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24 July 2013 For HRA/Travelling exemption, you no need to worry. you can mention only the taxable salary only in ITR-1. Rs.5000 exempted income is under sec.10 which is not covered HRA & Travel allowance comes under salary.

so my opinion, still you can file ITR-1

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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24 July 2013 itr-1 cannot be filed if hra exceeds rs 5,000 and author has specifically asked which return if hra is more then 5,000.

so in my opinion u cannot file itr-1 and file itr-2.

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