Hi Everone,
I was an a Employee for the last 4 years, My income is below 2.50L so every year i claimed TDS. Now i have 4L cash in my hand i deposited that amount as fixed depoist in this fisical year (15-16). So my question is how to declare my deposit, which form i to have use whether ITR-1 is enough or i have to go to ITR-2, I'm very confused how to proceed futher and also I got a gift of 1L from my dad where to include this amount in ITR ?
Thanks,
Kannapan
No need to declare bank FD as such while filling ITR 1 or ITR 2.
If your income is from salary & bank interest you can file ITR 1 only.
You can declare gift from your father as exempted income under 'Schedule EI'
Thank you so much for your quick reply. I have one more quries, i have submitted ITR-1 form but i dint include my father gift because I'm not able to find the "exempted income" under 'Schedule EI' in ITR-1. After your comment I came to know that it is in ITR-2 what should i do now ? can i resubmit the form by declaring my father gift amount in ITR-2?
No need to alter anything now. Otherwise also its not taxable...... So, no fault if not declared.....In ITR 1 under 'Tax Paid & Verification Tab'. Check the following.
| Exempt income (For reporting Purposes) | |||||||
| (i) | Sec.10(38) | ||||||
| (ii) | Sec.10(34) | ||||||
| (iii) | Agriculture Income (≤ Rs.5000) | ||||||
| (iv) | Others | ||||||||
| S.No. | Nature of Income | Amount | |||||||
| 1 | |||||||||
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