Which ITR should I use for an individual (59) with Salary, Dividend and other incomes. Total income above Rs,50 lakhs.
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ITR to be used
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Salary , Dividend and Other income ? . what type of Other income ?. please clarify .
Interest on deposits with banks and companies.
You can file ITR 2 . show dividend and internet income under Income from other sources .
ITR 2
Why not ITR 1 , salary and other sources also vailable in ITR 1 ,
His Income is above 50 lac , so ITR 1 is not available , who's income is more than 50 Lac .
Assuming that you have income only from salary and dividends, you may continue to declare income in ITR-1. Disclosure may be made under head 'Salary” and “other sources”. Notably, TDS has not been deducted on dividends because the same is less than Rs 5,000. However, you have to disclose the dividend income in the ITR.
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