Which itr to file?

1403 views 6 replies

 

Which ITR to file in following cases?
 
 
1. Individual having intt. & agriculture income?
 
2. HUF having only intt. income?
 
 
THANKS IN ANTICIPATION
Replies (6)

Dear Mr. Singh Litt !

1. An individual having interest and agriculture income  can file the return in ITR-1 (SAHAJ), provided that  the ‘agricultural income’ is below Rs.5,000/-.This return only meant for the status of  ‘Individual’ for the assessment year 2012-13. HUF cannot use this form !

2. HUF having only interest income can file the return in ITR-2 for the assessment year 2012-13.

For Individual >>>> ITR 1

For HUF >>>>> ITR 2

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)]

ITR - 2 For Individuals and HUFs not having Income from Business or Profession

ITR - 3 For Individuals/HUFs being partners in firms and not carrying out business or profession under any proprietorship

SUGAM (ITR4S) - Sugam - Presumptive Business Income tax Return

ITR - 4 For Individuals and HUFs having income from a proprietory business or profession

ITR - 5 For firms, AOPs and BOIs

ITR - 6 For Companies other than companies claiming exemption under section 11

ITR - 7 For persons including companies required to furnish return under section 139(4A) or section 139(4B) or section 139(4C) or section 139(4D)

 

As per above provisions,

1) ITR - 1

2) ITR - 2

Hope you got it.....yes

thanks nanduri sir.....but agriculture income is much above Rs. 5,000

then i think u should file ITR 2 in this case

Dear Mr. Singh Litt !

You can  go for ITR-2.

ITR-2 is to be used by an individual or a Hindu Undivided Family whose total income for the assessment year 2012-13 includes:-

(a) Income from Salary / Pension; or

(b) Income from House Property; or

(c) Income from Capital Gains; or

(c) Income from Other Sources

In this return you can show the Agricultural Income. No limit prescribed

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