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Itr

Efiling 265 views 1 replies

PC Saggi

Head

60 Points Joined July 2009

I have the following queries:-

a) A person who is otherwise eligible to file ITR 1 has made a foreign trip as visitor. Now which form is to be used ITR 1 or ITR 2/2A

b) A person have joint saving bank acc*nts with his wife . Both are income tax assessee. In some account husband is first named and wife as second. In others wife is first named and husband is second. There individual income is credited to their first named accounts only. Now are they both to give details of all of the joint saving bank accounts in their respective ITR's or only each is to submit the details where one is first named.

Replies (1)

Z

Tax Consultation (US and India)

2970 Points Joined September 2011

1. Can use ITR-1

Who cannot use this Return Form This Return Form should not be used by an individual whose total income for the assessmentyear 2015-16 includes:-

(a) Income from morethanone house property; or

(b) Income from Winningsfrom lottery orincome from Race horses; or

(c) Income under the head "Capital Gains' e.g., short-term capital gains or long-term capital gainsfrom sale of house, plot,shares etc.; or (d)

Agricultural income in excess of 5,000; or

e Income from Business or Profession; or (Q Loss underthe head 'Income from othersources';or (g) Person claiming relief undersection 90 and/or91; or

(h) Any resident having any asset (including financial interest in any entity) located outside India or signing authority in any account located outside India or

(i) Any resident having income from any source outside India

2. Both should declare all joint accounts (whether assessee has first name or not, in that account) it in their respective ITR.