Itr 1 or itr 2

ITR 1273 views 11 replies

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.

Replies (11)
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.

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

Dear Sir 

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

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.

avtar is rite..thnxx
Itr 1 to be filled and 80TTA to be claimed

itr 2

filled as income from other sources

 

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....
I recommend ITR2... . . Show it as interest in income from other sources
Kindly note 80TTA Deduction not available for fixed deposit interest income ... can be claimed only against saving bank interest . .

ITR 1 WILL DO.....


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