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Amol (Law officer)     12 July 2012

Itr 1 or itr 2

I am a salaried person.

I have purchased a house in 2006 on loan. and I am staying in this house. Monthly I am paying for this housing loan (principal +interest) to the bank.

Which form ITR 1 or ITR 2 should I use to file IT return?

 

Regards,

Amol S



Learning

 4 Replies

Ganesh (Proprietor)     12 July 2012

You should file ITR-1,

S.S. NIGAM (advocate(taxation) )     17 July 2012

dear mr. ganesh,

 you should to file itr 1

R RAJAGOPALAN (ADVOCATE)     22 August 2012

You need use ITR-1 only.The details of who can use ITR-1 and ITR-2 are:

 

Sr No.

Form No.

Descripttion Summary

1

ITR   1
(SAHAJ)*

Individual having income classified as:

 1. Salaries

2. House Property (where the individual does not own more than one house property

3. Income from Other Sources (except winnings from lottery or income from race horses)

2

ITR – 2

For Individual and Hindu Undivided Family (HUF) not having income under the head ‘Business and Profession’

Ganesh babu (ARTICLE ASSISTANT)     04 September 2012

ITR-1 IS APPLICABLE TO YOU

ITR-2 IS APPLICABLE TO PERSONS HAVINGINCOME FROM SALARY,& INCOME FROM HOSEPROPERTY FROM MORE THAN ONE HOUSE PROPERTY SO IT IS NOT APPLICABLE FOR U.

AND U CAN GET DEDUCTION UNDER CHAPTER VI A U/S.80C FOR THE PRINCIPAL AMOUNT OF LOAN U PAID IN F.Y

FOR THE INTEREST PORTION OF HOME LOAN PAID,U CAN GET DEDUCTION U/S.24(b),

 


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