Itr 1 or itr 2

ITR-2 will be applicable.

You can revise your IT return if you have file your returns before due date ie 31st july.

You are required to fill in the acknowledgement number from ITR-V into the revised return.

he has to file itr 2 only

show the exempt income separately in schedule

fill itr 1 . there are lot of misconception about using itr 1 and itr 2.

if there are exempt income under section 10 more than 5000 , itr 2 is required to be filled.

now question is which exempt incomes under section 10. 

let take case of net agriculture income.if net agriculture income is more than 5000 , itr 2 is required to be filled. reason if net agriculture income is more than 5000 , it is included in total income to determine tax rate ( 10% , 20% , 30% ) is applicable

in itr 1 there is no provsion for inclusion of net agriculture income above 5000. so itr form 2 is to be filled.

salary income includes conveyance allowance , hra , leave encashment etc which are deducted up to exemption from gross salary to arrive at gross total income from salary. Even if these incomes are more than 5000 (exempted portion ), then it is not required to fill itr 2 . fill itr 1.

Well answered by CA Rajiv. I strongly support his reply.

Mr. Rajiv amendment says that if exempt income under section 10 is more than Rs.5000 then ITR-2 is to be filled......and Transport allowance, Leave encashment,Gratuity etc. come under section 10.

Mr. Rajiv amendment says that if exempt income under section 10 is more than Rs.5000 then ITR-2 is to be filled......and Transport allowance, Leave encashment,Gratuity etc. come under section 10.

good ..

IF a government employee on retirement has received gratuity,leave encashment,commuted pension and gpf amount then itr-2 to be filled?

IF a government employee on retirement has received gratuity,leave encashment,commuted pension and gpf amount then itr-2 to be filled?