Pl help in Correct ITR form

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Quick Summary

If you're a salaried individual with total income under 50 lakhs, and received an additional payment under section 194J from a former employer, you should generally file ITR 2. If your total income is below 50 lakhs, you typically don't need to declare all your assets and liabilities in Schedule AL. The additional income from the single 194J transaction can be reported under 'Income From Other Sources'.

Shyam T

Shyam T (Querist)

21 November 2021 I am a salaried person with total income less than 50 lakhs. My ex employer paid me a small additional amount after I quit the company and put it under 194 J. i also have income from capital gains through shares and FD interest. Which is the correct ITR I should file. Also should I show all my assets and Liabilities

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

21 November 2021 If the amount received u/s. 194J is only single transaction, File ITR 2.
No need to fill Schedule AL, if total income is below 50 lakhs.

Shyam T

Shyam T (Querist)

21 November 2021 Thanks Sir for the quick response. In which field should I show the single transaction under 194 J, in ITR2

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

21 November 2021 Under Income From Other Sources...

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