banner_ad

ITR filing : Clarification of 50 Lakh Income Clause

789 views 2 replies

Dear All, 

Income tax filing clause mentions that if your income is above 50 Lakh then you will have to file ITR 2. But it is not clear which value within the ITR2 if goes above 50 Lakh then you will file ITR 2. These are tax paying individuals whose income is just on the boundry of 50 Lakhs and gets above or below 50 Lakh depending on the deductions u/s 10 , Interest Income and Deductions under VI-A. 

so , please inform which value in below fields in ITR if goes above 50 Lakh then we continue with filing ITR 2. Basically, which field we should refer for income above 50 lakh clause. Income is mainly from Salary and Savings bank interest. 

SALARY WorkSheet in ITR 2 

2. Total Gross Salary from All Employers                   

6. Income chargeable under the head Salaries (4 - 5)  

PART B - TI - TTI Worksheet in ITR 2  

9. Gross Total Income (7 - 8) 

12. Total income (9 - 11 ) 

thanks for help 

Replies (2)

As per the definition of 'Total income' ..... it means  ... 12. Total income (9 - 11 )  of Schedule TI'

But if you wish to be on safer side, consider it as .... 5. Total of head wise income (1+2+3c+4d) of the same schedule.

Thanks for reply. Issue is that With

5. Total of head wise income (1 + 2 + 3c + 44) it will be above 50 lakhs (schedule AL required) but with

12. Total Income (9 - 11) , it may be below 50 lakh due to deductions under chapter VI-A.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details