Correct ITR

when gross salary> 50 lacs, net salary (after sec 10 allowances) is < 50 lacs, whether ITR 1 can be used

Replies (2)
Quick Summary
This discussion clarifies which Income Tax Return (ITR) form to use when your gross salary exceeds 50 lakhs. Even if your net salary after exemptions is below 50 lakhs, you can still use ITR 1. The key factor is your total income after all exemptions and deductions, which must be up to 50 lakhs for ITR 1 eligibility.

Not , ITR 2 - above 50 lakhs as salary
Yes you can use ITR 1, coz it clearly says that where TOTAL INCOME (income after exemption and deduction) is upto 50lakhs

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register