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Itr 1 or itr 2

CA KOUSTABH KUNDU (PARTNER AT M. SEN & CO.) (41 Points)

11 January 2014

MY CLIENT ONLY HAVE FIXED DEPOSIT INTEREST OF RS 145000 AND SAVINGS BANK INTEREST OF RS 6400 AS INCOME . WHICH ITR TO BE FILED? PLSS HELP.

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Deepak Gupta (CA Student) (15922 Points)
Replied 11 January 2014

Originally posted by : CA KOUSTABH KUNDU
	MY CLIENT ONLY HAVE FIXED DEPOSIT INTEREST OF RS 145000 AND SAVINGS BANK INTEREST OF RS 6400 AS INCOME . WHICH ITR TO BE FILED? PLSS HELP.

ITR-1 shall be filed and savings bank interest of Rs. 6,400 can be claimed as deduction u/s 80TTA.

1 Like

Mihir (Wealth Manager) (5293 Points)
Replied 11 January 2014

Agree with Mr. Gupta. File ITR-1. Deduction u/s 80TTA is available. Check 26AS.

jagat singh rawat (artical) (41 Points)
Replied 11 January 2014

Dear Sir

you will fill Itr2 becasue it's income under other soures

AVTAR SINGH (Expert) (1873 Points)
Replied 11 January 2014

Form No. 1 will have to be filed because as per Rule 12 of the IT Rules, in the case of a person being an individual where the total income includes income chargeable to income-tax, under the head,— (i) "Salaries" or income in the nature of family pension as defined in the Explanation to clause (iia) of section 57; or (ii) "Income from house property", where assessee does not own more than one house property and does not have any brought forward loss under the head; or (iii) "Income from other sources", except winnings from lottery or income from race horses, 7[and does not have any loss under the head] be in Form ITR-1.

1 Like

SUNNY (CA Final & CS Professional) (327 Points)
Replied 12 January 2014

avtar is rite..thnxx

CHITTA RANJAN PANI (STUDENT) (29 Points)
Replied 12 January 2014

Itr 1 to be filled and 80TTA to be claimed

KORGAONKAR ASSOCIATIES (pratice) (118 Points)
Replied 12 January 2014

itr 2

filled as income from other sources

Rupesh Soni (Taxation Consultant & CA final student) (493 Points)
Replied 12 January 2014

ITR-1 SHOULD BE FILL INCOME UNDER OTHER SOURCES - FDR INTEREST & SAV INT...SAV INT U/S 80TTA DEDUCTED...CHEK 26 AS FOR FDR INT & TDS...OK BUT IF UR EXEMPTED INCOME U/S 10 IS > 5000/- THEN ITR-2 FILLED....