Nil income tax return

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Ravi (Querist)
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01 August 2014 My mom received a Salary 1,80,000 (in cash) during the FY 13-14 from employer.
Employer has not deducted any TDS from her salary. Employer issued salary certificate only .
My mom has invested some amount in share market in March 2014. (ie. near about 20,000/-)
I want to file income tax return online please guide me following.
Which form to be used ?
Where I have to show share market amount and its nominal profit (ie. near about Rs. 500/-) ?
She have received nominal interest from saving account ?
I want to file nil return.
Please guide me.

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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01 August 2014 Since your mother's salary is not more than the taxable slab no TDS was required to be made by the employer. You can file ITR-1 (Sahaj) showing salary income and share market and interest on savings bank account under the head income from other sources.

Savings bank interest is exempt upto Rs. 10,000/- u/s 80TTA.

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Ravi

Ravi (Querist)
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01 August 2014 Thanks Dear Mr. Abhishek, Can i file ITR for FY 2012 - 13 & FY 2013 - 2014 by today. (ie. after 31.07.2014)

Nikhil Kaushik

Nikhil Kaushik (Expert)
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02 August 2014 beg to disagree. if you want to file the return, then kindly use ITR2. ITR1 is not for share market income - be it capital gains or business income

Nikhil Kaushik

Nikhil Kaushik (Expert)
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02 August 2014 Ravi,

you can file for FY 2012-13 upto 31 March 2015.

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Ravi

Ravi (Querist)
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03 August 2014 Thanks Dear Mr. Nikhil Kaushik...

Nikhil Kaushik

Nikhil Kaushik (Expert)
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03 August 2014 you are welcome Ravi...best of luck

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