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Which itr to file?

Satvir Singh (Newly minted CA) (1733 Points)

06 July 2012

Which ITR to file in following cases?

1. Individual having intt. & agriculture income?

2. HUF having only intt. income?

THANKS IN ANTICIPATION

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6 Replies

CA.Saibaburao Nanduri (Chartered Accountant) (3847 Points)
Replied 06 July 2012

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.

1 Like

pintu (CA Final) (31 Points)
Replied 06 July 2012

For Individual >>>> ITR 1

For HUF >>>>> ITR 2

Sanket (!..Live to Give..!) (16427 Points)
Replied 06 July 2012

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.....