Itr 1 or itr 2

Amol (Ast Manager) (29 Points)

13 July 2012

Respected members,

I am a salaried person and my tax is deducted by my employer as TDS

I have purchased a house on loan in 2006 and staying in this house only. I am paying monthly installments for this loan.

Request you to please let me know which ITR form I should use ITR 1 or ITR 2.

Regards,

Amol S

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13 Replies

Sanket (!..Live to Give..!) (16427 Points)
Replied 13 July 2012

ITR 1 will be applicable as per your Income...

Prakshal M. Shah (CA & M.Com) (69 Points)
Replied 13 July 2012

ITR 1

Thx

Sanket (!..Live to Give..!) (16427 Points)
Replied 13 July 2012

You Welcome.....

(Guest)

yes, ITR 1 is applicable........

HARISH MEHTA (Chartered Accountant) (210 Points)
Replied 13 July 2012

Yes,

ITR-1

Amol (Ast Manager) (29 Points)
Replied 14 July 2012

Thanks all

Amol

Pawan Mittal (CA Final) (702 Points)
Replied 14 July 2012

yes, ITR 1 will be applicable. You can claim a deduction of upto Rs. 150000 per annum for interest paid on house property.

Ganeshbabu K (Audit and Tax Advisory) (48559 Points)
Replied 14 July 2012

YOU HAVE TO FILE ITR1

CAN CLAIM DEDUCTION UPTO 150000 P.A. FOR INTEREST PAID ON HOUSE PROPERTY

FOR PRINCIPAL AMOUNT U HAVE TO CLAIM FROM CHAPTER VA DEDUCTIONS....

CA. Aabhishek Khurana (CHARTERED ACCOUNTANT) (364 Points)
Replied 14 July 2012

ITR 1 SHALL BE APPLICABLE

CA Mohit Garg (CS Student) (213 Points)
Replied 14 July 2012

If I have salaried income & rental income from house property

I have also taken loan on house property

Than, ITR 1 or ITR 2

ITR 1 have no details regarding the rent, interest on loan,

Please reply

Piyush Sancheti (HEAD TAXATION CHEMICAL MFG CO) (307 Points)
Replied 14 July 2012

ITR 1 is applicable.

*RENU SINGH * (✩ §m!ℓ!ñġ €ม€§ fℓม!ñġ ђ♪gђ✩ ) (21627 Points)
Replied 15 July 2012

ITR 1

as salary income is already taxed ...

CA CS CIMA Prakash Somani (Landmark Group) (23502 Points)
Replied 15 July 2012

PLS REFER THE CHART WHICH WILL CLARIFY WHCIH FORMS TO USE FOR WHAT

For Þ	Individual	Individual, HUF
Sources/Details of Income ß	ITR-1 (SAHAJ)	ITR-2	ITR-3	ITR-4	ITR-4S (SUGAM)
1	Income from Salary/Pension	•	•	•	•
2	Income from Other Sources (only Interest Income or Family Pension)	•	•	•	•
3	Income/Loss from Other Sources		•	•	•
4	Income/Loss from House Property		•	•	•
5	Capital Gains/Loss on sale of investments/property		•	•	•
6	Partner in a Partnership Firm			•	•
7	Income from Proprietary Business/Profession				•
8	Income from Presumptive Business					•
9	Details of Foreign Assets		•	•	•