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 | |||||||||
  |
|||||||||
Subrahmanyam & Sivudu CA Firm
Hyderabad
CA Inter
View Details
RBSM Corporate Advisors Private Limited
Pune
CA
View Details
Interactive Media Pvt Ltd.
New Delhi
CA Inter
View Details
Getmyca Consultant Pvt Ltd
New Delhi
CA Inter
View Details
MANUJ SHARMA AND COMPANY
Noida
CA Inter
View Details
Chirag P Shah & Co. Chartered Accountant
Pune
B.Com
View Details
CCI
Pro
CAclubindia
