I'm a Director of a company receiving only salary from pvt ltd company and other income as house rent. which ITR form applies to me. can I file ITR-1
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Which itr form
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YES, YOU CAN FILE ITR-1, SUBJECT TO YOUR TOTAL TAXABLE INCOME SHOULD BE LESS THAN RS 50 LAKHS AND THE SOURCES OF INCOME IS ONLY FROM SALARY, OTHER SOURCES AND ONLY 1 HOUSE PROPERTY.
If Rent is received by letting out 1 House Property and taxable income is less than 50 lakh then file ITR-1, Otherwise ITR-2.
The director is required to file form ITR - 1 subject to total income not exceeding Rs 50 lakh. In case the income exceeds Rs 50 Lakh, you are required to file form ITR - 2.
Please refer to following link for more information: Quick Guide for Income Tax Return Filing.
You can contact us at support @ legalwiz.in or 1800 313 4151 for more details.
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