ITR Form

Hi, I understand that an assessee having only Salary income and claming Housing loan Interest deduction will have to use ITR 2 form.

 

However, this financial year, the Income Tax Dept has come out with Naya Saral Form, for individulas having Salary Income and one House property income.

 

So, I was wondering, which ITR form should be used for only Salary income and home loan deduction.

 

Regards,

 

Capriura

Replies (2)

Hi, Vivek

Don't confused regarding ITR 2 and New Saral form. I am clarifying the matter.

Actually, ITR-1 has been renamed to Saral - II (ITR-1). But new addition to the format of ITR-1 is that, assessee can show “Income from House Property”.

  • But, this House Property income can be of maximum ONE property. If more, use ITR-2. 
  • Also, assessee can show the loss under House Property (interest paid) as negative figure over here. This should be arithmetically deducted to obtain “Total income”.

I hope, now you have clear the topit.

Dear Sir....

A.Y. 2010-11.....

SARAL - II....i.e ITR - 1...

- For Individuals having Income from salary / pension / Income from ONE house property (excluding loss brought forward from previous years) / Income from other sources (excluding winning from Lottery and Income from Race Horses).....

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