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ITR i / SARAL II

Sunil (Trader) (2611 Points)

30 July 2010

In case where the only property owned is Self Occupied Property having annual value nil, can ITR I be used for assessment year 2010-11 or can it be used only for positive income from SOP.

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3 Replies

CA. Pradeep Nayak (Not In Practice) (1403 Points)
Replied 30 July 2010

ITR-1(SARAL-II) can be used by assesse's having income/(loss) from only 1 house property. The said house property can be either SOP or LOP. But there should not be any carry forward or brought forward loss.

Harpreet (* * * * * *) (1670 Points)
Replied 30 July 2010

Yes Mr. PRadeep is right...agreed wid him

Sunil (Trader) (2611 Points)
Replied 01 August 2010

Thanks. The only problem I find in this form is that you simply have to write 0 against the column for Income from HP. In the excel utility I downloaded there does not seem to be any Schedule S for Salary or Schedule HP for House Property or even the Schedule for OS. Is the front page the only are where we populate the figures? Seems odd as normally department uses cumbersome forms?