Itr filing

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WHAT ITR FORM IS USED IF AN INDIVIDUAL HAVING ONLY INTEREST ON DEPOSITS
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ITR1 I suppose

itr 1 is for individuals having income from salary&Interest&one house property income

itr 2 for individuals &Huf not having business or profession

itr 2A for individuals and HUF not having income from business or profession and capital gains and who do not hold foreign assets....

so for interest income on indian deposits in india, you can use either ITR 1,2A for foreign assets (deposit is also an asset) use ITR 2.

returns get processed even you take itr 1 and show only interest income no problem.

or select itr 2A if indian deposits.

DO NOT NEED  FILE ITR IF INTEREST AMOUNT IS LESS THEN EXEMPT LIMIT OF INCOME TAX  

BUT IF CROSS THE EXEMPT LIMIT  OF INCOME TAX THAN YOU SHOUL FILE  ITR WITH FORM ITR 1 OR 2A

GOOD LOUCK!


CCI Pro

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