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Selection of ITR Form

Others 476 views 1 replies

Hi,

I did read few of articles here and there regarding ITR Form for FY 12-13, All of them suggested that ITR 1 should not be used when the exempted income (i.e. HRA, LTA, Conveyance) excees Rs 5000. I wonder, in our company all of them receiving Rs 800 per month as conveyance irrespective CTC. Hope most of the companies in India does the same. Now what IT Department wants? 99% salarised employees should not be used ITR 1?

Please share your thought or experience if you have filed ITR 1 this time & for how many employees you have done?

Kindly correct me, if i have mentioned incorrectly anything.

Replies (1)

Yes, this is a matter on which more than one view is possible. I feel that exemptions greater than 5000/- means exemptions under section 10 not related to salary like interest from PPF, dividend, specified LTCG etc. Not the salary linked ones like HRA or conveyance or motor car or LTA etc.

Regards,


CCI Pro

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