• Skip to main content
  • Skip to header right navigation
  • Skip to site footer
Site Logo

BasuNivesh

Personal Finance Blog

  • Home
  • Service
    • Fee-Only Financial Planning Service
    • Financial Wellness Session
  • Blog
  • Old Articles
  • About Us
  • Contact us
  • Media
  • Search

Income Tax Return Filing AY 2014-15-Which forms to use?

June 6, 2014by Basavaraj Tonagatti

It is once again time for filing IT return. If you have only one source of income then there will be no problem. But in case if your income is from different source then you will get confused in using forms for the same. So let us simplify this in today’s post.

Note-We deactivated commenting option for this post. If you have any doubts, then either ask the same in the latest post “Income Tax Return filing forms for AY 2016-17 (FY 2015-16)-Which form to use?” or use BasuNivesh Forum.

Income Tax Return

Refer the new forms list for FY 2015-16 (AY 2016-17) details in below post.

  • Income Tax Return filing forms for AY 2016-17 (FY 2015-16)-Which form to use?

1) ITR-1 SAHAJ (Indian Individual Income Tax Return)–

Who can use this form?

  • Income from Salary/Pension
  • Income from one House Property (but excluding those cases where loss is bought forward from previous years)
  • Income from Other Sources
  • In case when income of spouse or minor child to be clubbed with income of assesses (but do remember that income to be clubbed falls into above income category)

Who can’t use this form?

  • Income from more than one House Property
  • Income from winning from lottery or income from horses
  • Income under the head of Capital Gains (whether it is LTCG or STCG)
  • Income from Agriculture/exempt income in excess of Rs.5,000
  • Income from Business or Profession
  • Loss under the head of “Income from Other Sources”
  • Person claiming relief under the Sec of 90 and or 91.
  • Any resident having any asset located outside India.

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

Who can use this form?

  • Income from Salary or Pension
  • Income from House Property
  • Income from Capital Gains
  • Income from Other Source

Who can’t use this form?

  • This form should be not used by an individual whose income for AY 2014-15 includes income.

3) ITR-3 (For Individuals and HUFs being partners in firms and not carrying out business or profession under any ownership).

Who can use this form?

This form can be used by an individual or HUF who is partner in a firm and where income chargeable to tax under the head of Business or Profession. But must not include any income except the income by the way of interest, salary, bonus, commission or remuneration. Also in case partner of firm does not have any income from the firm by way of interest or salary etc. and has only exempt income by way of share in the profit of firm, then he need to use this form only but not ITR-2.

Who can’t use this form?

This form can’t be used whose total income for AY 2014-15 includes income from Business or Profession under any ownership.

4) ITR-4S SUGAM (Presumptive Business Income both for Individual and for HUF)

Who can use this form?

  • Business Income computed in accordance with special provisions referred to in Sec.44AD and 44AE of the Act.
  • Income from Salary or Pension
  • Income from one House Property ( excluding cases where loss is bought froward from previous years)
  • Income from Other Sources (excluding lottery or horses)
  • In case when income of spouse or minor child to be clubbed with income of assesses (but do remember that income to be clubbed falls into above income category)

Who can’t use this form?

  • Income from more than one house property
  • Income from lottery or horse
  • Income under Capital Gains
  • Income from agriculture/exempt income in excess of Rs.5,000
  • Income from special incomes
  • Income from a profession referred in sub-section (1) of Sec.44AA or income from any agency, commission or brokerage
  • Person claiming relief of foreign tax paid under Sec.90, 90A or 91
  • Any resident having any asset located outside India.

5) ITR-4

This form can be used to individual or HUF who is carrying out a proprietory business or profession.

6) ITR-5

Who can use this form?

This form is mainly meant for firm, LLPs, AOP, BOI, artificial judiciary person referred in Sec 2(31) (vii), co-operative society and local authority.

Who can’t use this form?

This form not to be used by Individual, HUF or companies.

7) ITR-6

This form can be used by companies but other than companies claiming exemption under Sec.11.

8) ITR-7

This form can be used by persons including companies who are required to furnish return under Sec.139(4A), 139(4B), 139(4C), or 139(4D).

Note-We deactivated commenting option for this post. If you have any doubts, then either ask the same in the latest post “Income Tax Return filing forms for AY 2016-17 (FY 2015-16)-Which form to use?” or use BasuNivesh Forum.

Image courtesy of [Grant Cochrane] / FreeDigitalPhotos.net

Category: Tax PlanningTag: Income Tax Return Filing AY 2014-15

About Basavaraj Tonagatti

Basavaraj Tonagatti is the man behind this blog. He is SEBI Registered Investment Adviser who is practicing Fee-Only Financial Planning Process and also an Independent Certified Financial Planner (CFP), engaged in blogging since 7 years. BasuNivesh blog is ranked as one among India's Top 10 Personal Finance Blog. He is not associated with any Financial product/service provider. The purpose of this blog is to "Spread personal finance awareness and make them to take informed financial decisions." Please note that the views given in this Blog/Comments Section/Forum are clarifications meant for reference and guidance of the readers to explore further on the topics/queries raised and take informed decisions. These should not be construed as investment advice or legal opinion."

Previous Post: « Two Mutual Funds-Tax Efficient (Sec. 80C) and Pension Plans in India !!!
Next Post: Gold Saving Schemes-Who will benefit? »

Reader Interactions

Comments

  1. Senthil

    July 23, 2016 at 9:17 PM

    Sir,

    My main income is salary from private company with tds under 192.

    I also have received payment (around 1 lakh per year as multiple small payments) for adhoc online professional/technical services, and they have deducted tds under 194J.

    Can I file ITR form 1, as my main income is from salary, and show the above amount from professional services as income from other sources?

    Please guide me. Thank you.

    • Basavaraj Tonagatti

      July 24, 2016 at 8:39 AM

      Senthil-You have to use ITR4.

  2. Nagababu

    July 19, 2016 at 2:42 PM

    My wife is getting income from only on house rental 3L p.a which form i need to use to submit IT returns. is that ITR-1

    • Basavaraj Tonagatti

      July 19, 2016 at 5:30 PM

      Nagababu-Refer latest post “Income Tax Return filing forms for AY 2016-17 (FY 2015-16)-Which form to use?“.

  3. Amit Khatri

    July 19, 2016 at 9:07 AM

    My wife has part time tuition income of apprx 2 lacs p.a. during FY 15-16. Can I show her income as income from other sources and file ITR1

    • Basavaraj Tonagatti

      July 19, 2016 at 9:38 AM

      Amit-It is Professional and Business Income.

  4. Abhishek

    July 15, 2016 at 4:59 PM

    I have individual business income (video production). We also started a partnership firm in Feb 2016, and want to file presumptive income for that. We didn’t withdraw any money from that. So do I need to file my individual return as ITR-5 and partnership as ITR-4S? Do I need to file two returns?

    • Basavaraj Tonagatti

      July 15, 2016 at 6:11 PM

      Abhishek-I think ITR4S.

      • Abhishek

        July 15, 2016 at 6:18 PM

        Thanks for your reply. But what about my personal income. I normally file ITR-5, but this year we made the partnership firm too. I haven’t withdrawn any salary or income from the partnership firm. So that’s what I wanted to ask. If my income from business done on my personal name and interest, would be filed under ITR–5 and then another ITR-4S for the partnership firm. My personal income is not on presumptive basis, only the partnership’s income is on presumptive basis. So I am a bit confused.

        Thanks!

        • Basavaraj Tonagatti

          July 15, 2016 at 6:44 PM

          Abhishek-Sorry, in that case use ITR5. I thought your own income is presumptive.

  5. LOKESH SHUKLA

    July 15, 2016 at 8:07 AM

    i am aaccountant i want to know return form of income tax (income is agriculre & electrician labour) what return form i use plz say.
    thanks & regards
    lokesh shukla
    m-9463462360

    • Basavaraj Tonagatti

      July 15, 2016 at 10:10 AM

      Lokesh-Refer my latest post “Income Tax Return filing forms for AY 2016-17 (FY 2015-16)-Which form to use?“.

  6. Govind

    July 14, 2016 at 9:42 PM

    I am a student. I interned with a firm and they paid me after deducting TDS under Section 194J (professional or technical service). I also have winnings from a competition with TDS deducted under Section 194B. Is it fine for me to fill ITR-2 and declare my internship income as from other sources or should I have to fill ITR-4? ITR-4 seems very complex.

    • Basavaraj Tonagatti

      July 15, 2016 at 10:14 AM

      Govind-ITR4.

      • Deepak

        July 22, 2016 at 12:50 AM

        I am working in private company from july 2016 .My gross salary not come under taxable income but tax deducted under section 194J, how to file itr ? which itr need to file. ?

        • Basavaraj Tonagatti

          July 22, 2016 at 9:42 AM

          Deepak-If your taxable income is less than the minimum prescribed limit, then you can file IT return and get the refund of TDS.

  7. sankarasubramanian

    July 14, 2016 at 1:24 PM

    Sir, My son has paid the premium for he health insurance of my wife and for myself by means of a bank cheque. But the health insurance company has issued separate receipts in the name of my wife and in my name. In short the insurance company has not issued receipt showing the name of my son in both receipts. Instead the insurance company has issued receipt in my wife’s name and in my name. Whether my son can claim 80 (d) with these receipts for health insurance or he has to insist the insurance company to issue receipt in his name for the payment of premium paid for his parents. I request clarification in this regard.
    with regards.
    Sankarasubramanian.

    • Basavaraj Tonagatti

      July 14, 2016 at 7:29 PM

      Sankarasubramanian-No issues. He can claim the deduction.

      • sankarasubramanian

        July 14, 2016 at 11:52 PM

        Thank you for your reply.
        regards.
        sankarasubramanian.

  8. Debadrito Mukherjee

    July 13, 2016 at 2:34 PM

    Dear Sir,
    While filing ITR-4 in Excel Sheet, should we delete or leave blank the Unwanted parts and Schedules?Please suggest!!!!!

    • Basavaraj Tonagatti

      July 13, 2016 at 5:22 PM

      Debadrito-Better to keep it as it is.

  9. Sampath

    July 5, 2016 at 3:25 PM

    My friend is a contractor in a bus body building company. Company issue Form16 A to him. He is not maintaining any books of accounts. Kindly guide me which ITR form he should file.

    • Basavaraj Tonagatti

      July 5, 2016 at 7:32 PM

      Sampath-ITR1.

  10. Debadrito Mukherjee

    July 1, 2016 at 1:51 PM

    Dear Sir,
    In form ITR-1, there is a column “Unique TDS Certificate No.” in TDS-2. Is it compulsory to fill this column as Unique TDS Certificate No. is not shown in 26AS? Please suggest!!!!!

    • Basavaraj Tonagatti

      July 2, 2016 at 10:08 AM

      Debadrito-TDS 2 refers to the TDS done on income other than salary income. Hence, your TDS is not from salary, then mention that number there. Otherwise, keep it blank.

  11. kakwani sunil

    June 27, 2016 at 6:31 PM

    Sir,

    i am a govt. employee having posted in a city. i had taken home loan and getting exemption on interest and principal.
    Now i am transfered to other city and purchased flat with home loan in that city. can i sum up for the interest paid in both banks as home loan?

    • Basavaraj Tonagatti

      June 27, 2016 at 8:49 PM

      Kakwani-Whether both homes still owned by you?

      • Kakwani Sunil

        June 27, 2016 at 8:56 PM

        Yes sir…

  12. Rajesh Chaturvedi

    June 23, 2016 at 4:40 PM

    I have retired from PSU service. Now I have following income:- monthly annuity payment from LIC, Employee Family Pension Interest from FDs. I am doing consultancy and getting professional fees from various companies. I also deal in shares and have made loss on long term and gain on short term. Which form I should use? Further what expenses I can deduct from my professional fees paid to me? Do I have to keep proof for these expenses?what is the rate of income tax on professional fees?

    • Basavaraj Tonagatti

      June 23, 2016 at 9:46 PM

      Rajesh-You have to use ITR4. Yes, you have to keep the proof of expenses. IT rates are same as that of other individuals.

  13. Debadrito Mukherjee

    June 22, 2016 at 1:20 PM

    Hi Sir,
    My employer deducts Rs.1560 annually from my Professional Fees of Rs.192000 p.a. as Professional Tax. In ITR 4 form under No-Accounts Case Column, how to show this deduction?The rows are of Gross Receipts,Gross Profit,Net Profit in Part A-P&L in ITR-4. How to show this in Schedule BP? Please suggest!!!!!!

    • Basavaraj Tonagatti

      June 22, 2016 at 1:23 PM

      Debadrito-Why you are using ITR4?

    • Debadrito Mukherjee

      June 23, 2016 at 12:15 PM

      Dear Sir,
      My Professional Fees are being deducted under section 194J of the IT Act. Hence , I have to file ITR 4 .
      As my employer deducts Rs.1560 annually from my Professional Fees of Rs.192000 p.a. as Professional Tax. In ITR 4 form under No-Accounts Case Column, how to show this deduction?The rows are of Gross Receipts,Gross Profit,Net Profit in Part A-P&L in ITR-4. How to show this in Schedule BP? Please suggest which form to file in this regard?

      • Basavaraj Tonagatti

        June 23, 2016 at 1:34 PM

        Debadrito-You have to show under the head of salary income (Schedule S a from (a)).

  14. Niranjan Kumar

    June 18, 2016 at 7:59 PM

    Dear Sir
    Thanks for providing your precious time to readers..
    I have a query..please help me

    I am a PSU employee and I also do share market trading, mostly delivery based but also occasionally intra day.
    I had filed my ITR for assessment year 2015-16 on 31st Aug, 2015 and also had some refund.
    I also started trading in 2014 and had some profit. But since i was new and did not have any idea so i could not declare my profit from share market.
    I want to pay my tax for the income which i did not declare. I filed ITR-1. How to make a rectification? Which form should i file as revised form? Please help.

    • Basavaraj Tonagatti

      June 18, 2016 at 8:22 PM

      Niranjan-You have to revise if you feel so and use the ITR4.

      • Niranjan kumar

        June 18, 2016 at 8:32 PM

        Sir thanks a lot for prompt reply…
        1. In form 4s there is no option for capital gain… Where do I fill the profit?
        2. If I use option of income from other sources then it is written that you ensure to file tds2 which I didn’t.

        Please help me. I m scared. Did I commit a mistake? What may be the consequences? My income from share is 60k rs.

        • Basavaraj Tonagatti

          June 18, 2016 at 8:42 PM

          Niranjan-I said ITR4. If you scared, then I suggest you to take the help of tax expert of your area. Because all doubts can’t be cleared on this platform.

  15. santopsh Parashar

    June 18, 2016 at 1:35 PM

    Sir,
    I have income from salary for which the form 16 is issued by my employer and also have earned from professional service ( as a Trainer) for which the service receiver organisation issues form 16A for TDS under 194J.

    Kindly advice which ITR form should I use for filing the return?

    • Basavaraj Tonagatti

      June 18, 2016 at 6:03 PM

      Santopsh-You have to use ITR4.

  16. Debadrito Mukherjee

    June 6, 2016 at 5:23 PM

    Sir,
    I purchased NSC VIII issue in September 2015 for Rs. 2 lacs. I will get 80C benefit for only Rs. 1.5 lacs. The rest of the money Rs. 50000 – will it be taxable for the FY 2015-16?Please suggest!!!!

    • Basavaraj Tonagatti

      June 6, 2016 at 5:45 PM

      Debadrito-It will not be taxable. But you will not get any tax benefits for investing that additional Rs.50,000.

  17. Sankarasubramanian

    June 3, 2016 at 8:40 AM

    Dear Sir, My son has borrowed a interest free loan from me and from my wife amouting to 1,50,000 to book a flat for him. While filing income tax return which form he has to use and in which column he has to show the loan which is an exempted income for him. Awaiting your reply. with regards. Sankarasubramanian.

    • Basavaraj Tonagatti

      June 3, 2016 at 10:20 AM

      Sankarasubramanian-It is advance you paid to him without interest. So the form will not change to him.

      • Sankarasubramanian

        June 3, 2016 at 11:46 AM

        Dear Sir, Thank you very much for your reply. You mean to say that my son need not mention the amount received as loan in the income tax return. Salary income is the only source of income for him. Hence ITR 1 Form has to be used. Am I correct. with regards. Sankarasubramanian.

        • Basavaraj Tonagatti

          June 3, 2016 at 12:23 PM

          Sankarasubramanian-YES.

  18. Sankarasubramanian

    June 3, 2016 at 8:35 AM

    Sir, My wife retired from service on 31.12.2015. She received gratuity and encashed earnd leave at her credit. So these amount comes under exempted income. Which IT return has to be used? At which coloumn the exempted amount has to be shown in the it return? Thanks and regards.

    • Basavaraj Tonagatti

      June 3, 2016 at 10:21 AM

      Sankarasubramanian-Mere by receiving exempt income your IT Return form will not change.

      • Sankarasubramanian

        June 3, 2016 at 11:53 AM

        Sir, Thanks for your reply. From you reply I understood that my wife has to be file ITR1 since pension is the only sournce of incoem for her. More over I need not mention the gratuity. commutted pension and encashment of leave at the time of retirement. Please cofirm Sir. Regards. Sankarasubramanian.

        • Basavaraj Tonagatti

          June 3, 2016 at 12:24 PM

          Sankarasubramanian-YES.

  19. Debadrito Mukherjee

    May 29, 2016 at 10:18 PM

    Dear Sir,
    The Professional Tax deducted from my Professional Fee should fall under which part of which schedule of ITR-4? As my total income does not exceed Rs.5 lakhs , am I eligible for rebate under Sec 87A? Please suggest!!!!!

    • Basavaraj Tonagatti

      May 30, 2016 at 7:34 AM

      Debadrito-Refer these Instructions.

  20. omkar dhunda

    May 28, 2016 at 8:45 PM

    Sir i am coordinator in tpa,ihave only one source of income,my salary is 7000/ and 10% TDs deducted,in form26 tds deduct under 194j section,my problem is I’m salaried person or profession,n which itr for me

    • Basavaraj Tonagatti

      May 28, 2016 at 9:58 PM

      Omkar-ITR1.

  21. abhi

    May 27, 2016 at 9:05 PM

    Sir
    My Tax deducted section 194j,700*12=8400 total tax deduct ,CA filled itr2 ,some people say ir4 is right,what can I do ??

    • Basavaraj Tonagatti

      May 27, 2016 at 9:33 PM

      Abhi-Check the above details and decide who is right.

  22. veer

    May 27, 2016 at 7:32 PM

    I am An Employee in State Govt.
    Can I trading in share market & If I can trade in share market than which IT-R is applicable for mine.

    Pls Suggest & Explain.

    • Basavaraj Tonagatti

      May 27, 2016 at 8:38 PM

      Veer-Yes, you can (But check the rules of your employer). You have to use ITR4.

      • veer

        May 28, 2016 at 12:26 PM

        Thank Sir…………..

  23. PALLAVI

    May 26, 2016 at 6:46 PM

    Hello,

    I am a practicing doctor. Last 1 year I was doing part-time consulting for a firm who has cut the TDS of professional fees and filled under TDS-2 form. This I just confirmed online. I was also receiving salary from a hospital this last year. My CA filled both these Income under TDS-1 category from salary (Schedule S ) of Form 4. I asked him he said it will not be a issue.

    Can you please confirm if this is ok or do I need to claim this professional fees in some other Schedule of Form 4?

    • Basavaraj Tonagatti

      May 26, 2016 at 7:23 PM

      Pallavi-Form 4 is fine.

      • PALLAVI

        May 26, 2016 at 7:32 PM

        Thank you for the reply Mr.Basavaraj.

        My question was if its ok that the professional fees paid (which the firm has filled as TDS-2 ) is filled along with my hospital salary under Schedule S or does this professional fees need to be filled in separate schedule than the hospital salary?
        If separate schedule which one under Form 4?

        • Basavaraj Tonagatti

          May 26, 2016 at 7:45 PM

          Pallavi-There is nothing such thing that we can called as TDS 2. Please note that you have salary income and professional income. Hence, for you ITR4 is the form to file return. TDS done against professional fees must be mentioned against professional fees. No confusion here.

  24. Debadrito Mukherjee

    May 26, 2016 at 1:12 PM

    Dear Sir,
    I am a software personnel in contractual govt. job. In which para of ITR-4 shall I enter my salary which I earn as professional fee? Please suggest!!!

    • Basavaraj Tonagatti

      May 26, 2016 at 3:52 PM

      Debadrito-Whether your income is salary or professional fee? If it is professional fee, then you must mention in ITR4.

  25. Debadrito Mukherjee

    May 25, 2016 at 4:53 PM

    Dear Sir,
    ITR-4 is a form with many pages of which I have to fill two or three pages. Rest of the pages should be struck off or kept as it is ? Please suggest!!!

    • Basavaraj Tonagatti

      May 25, 2016 at 6:38 PM

      Debadrito-It depends your income. It is hard for me to say generic.

  26. Debadrito Mukherjee

    May 22, 2016 at 12:26 PM

    Dear Sir,
    I am a Software Personnel earning a Professional Fee. I also have income from other sources such as bank deposits , MIS , Taxable Bonds . Which ITR Form should I fill up ?

    • Basavaraj Tonagatti

      May 22, 2016 at 5:49 PM

      Debadrito-Refer my latest post “Income Tax Return filing forms for AY 2016-17 (FY 2015-16)-Which form to use?“.

  27. veer

    May 2, 2016 at 4:03 PM

    I do only Stock Trading so which IT-R is applicable for mine.

    • Basavaraj Tonagatti

      May 2, 2016 at 9:58 PM

      Veer-ITR4.

  28. SHUSHRUTHA BHATT

    April 20, 2016 at 5:46 PM

    Hi Basavaraj,

    In the assessment year 2016-17, I was salaried for 10 months and I then started my business as a professional. Can you guide me as to which ITR forms I should be filing? In the e-tax portal there are just two options ITR-1 and ITR-4S against my PAN. The recent budget launched the presumptive taxation scheme for professionals as well. But I am assuming these will be applicable from the assessment year 2017-2018 right?

    • Basavaraj Tonagatti

      April 20, 2016 at 8:22 PM

      Shushrutha-Refer my recent post “Income Tax Return filing forms for AY 2016-17 (FY 2015-16)-Which form to use?“.

  29. ATUL

    March 31, 2016 at 12:40 AM

    SIR,

    I AM A PROPERTY DEALER (COMMISSION AGENT ) SO IN WHICH FORM I FURNISHED MY INCOME DETAILS

    AND SIR PLEASE TELL ME BALANCE SHEET IS NECESSARY OR NOT.

    • Basavaraj Tonagatti

      March 31, 2016 at 9:58 AM

      Atul-You have to use ITR4. Balance sheet and all depends on your income range. Contact the CA of your area.

  30. SUMIT

    March 29, 2016 at 7:27 PM

    MY MOTHER EARN INCOME FROM STITCHING CLOTH . PLEASE TELL WHICH ITR FORM SHE SHOULD USE TO FILE INCOME TAX RETURN

    • Basavaraj Tonagatti

      March 30, 2016 at 11:22 AM

      Sumit-ITR4.

  31. Tausif ahmed

    March 28, 2016 at 12:42 AM

    Dear sir,

    My source of income is income from salary, income from car rental, commission from car insurance

    Please advise which itr form should I used?

    • Basavaraj Tonagatti

      March 28, 2016 at 10:51 AM

      Tausif-ITR4.

  32. DEBASIS JANA

    December 14, 2015 at 4:26 PM

    Dear Mr. Basavaraj Kudos for a very informative blog . May I request you to clarify a doubt of mine as you have been doing for so many others. My wife was teaching on retainership basis. I am aware that she has to file ITR 4 which she did. The fees earned in 9 months of AY 2015-16 was 151072. TDS is 15111. Towards expenses for travelling up to her school she has claimed 20000. Where does she have to show this in form ITR4? IT dept has reverted saying that the return is defective

    • Basavaraj Tonagatti

      December 15, 2015 at 8:42 AM

      Debasis-You have to show the expenses under the professional or business expenses.

  33. sasidhar

    November 4, 2015 at 4:16 PM

    sir,

    I am doing contractor business in construction field which ITR form i used to file and whether it is required to maintain P&l and Balance sheet.What is the due date for filling the return. Under which head i have to show my income.

    • Basavaraj Tonagatti

      November 4, 2015 at 6:44 PM

      Sasidhar-Sasidhar ITR4. For individual the last date to file IT return is already over.

  34. Dayanand Wasate

    October 30, 2015 at 12:02 PM

    There is one question regarding ITR1 Category of applicant.

    What is the procedure for TAx returns after filling up Form-16A for refund procedures.

    Appreciate your guidance on it.

    Thanks!

    • Basavaraj Tonagatti

      October 30, 2015 at 12:12 PM

      Dayanand-Form-16A will not the end of IT Return. It shows the income details which you have to show in ITR1. What is your exact doubt?

  35. manmohan

    October 5, 2015 at 11:47 AM

    Hi Sir,
    Which ITR form should I use. I have following:
    – Salary
    – brokrege on two vihlar and four vhiler sale
    – Some interest from saving account

    • Basavaraj Tonagatti

      October 5, 2015 at 12:52 PM

      Manmohan-ITR4.

  36. MRINAL NAG

    September 22, 2015 at 11:19 AM

    I have income from Salary. Income from small lodge & income from LIC commission, please suggest which form should I use.

    • Basavaraj Tonagatti

      September 22, 2015 at 11:30 AM

      Mrinal-ITR4.

  37. Yuvaraj

    September 14, 2015 at 5:23 PM

    Dear Sir

    I am a LIC agent and my monthly commission is between rs. 1000 to rs. 1500. In my LIC office they are asking me to provide Tax Exemption Certificate to get further commissions. I want to know how to apply for it. And which form should I use from the income tax department. Kindly help me.

    Thanks & Regards
    Yuvaraj

    • Basavaraj Tonagatti

      September 14, 2015 at 5:49 PM

      Yuvaraj-Usually LIC deducts TDS for agents. At the end of year, it issues Form 16. You have to collect it and file IT Return.

  38. Ravindra

    September 10, 2015 at 7:55 AM

    Dear sir,
    Let me clear the which itr form I fill,
    I have income from salary and small good carriage vehicle transportation income.

    • Basavaraj Tonagatti

      September 10, 2015 at 10:02 AM

      Ravindra-ITR4.

  39. juju

    September 7, 2015 at 12:05 AM

    sir
    iam a pg student(MD resident doctor) in gov. medical college. iam getting not as salary but as stipend around 42k per month.which form to use?is any excemption for this stipend?

    • Basavaraj Tonagatti

      September 7, 2015 at 12:08 PM

      Juju-It is considered as salary income and use ITR1.

  40. AJAY KUMAR SOOD

    September 2, 2015 at 3:20 PM

    My friend owes a canteen in our office. He supplies refreshment to our office staff on contract basis and tax is deducted on that income. Can he use ITR-1 for filling income tax return. If not please advise which ITR form should be used. His income is less than Rs. 2 lacs p.a.

    • Basavaraj Tonagatti

      September 3, 2015 at 11:42 AM

      Ajay-ITR4.

  41. Himanshu Joshi

    September 1, 2015 at 11:21 AM

    sir i am LIC Agent and i have to file income tax return. so i want to ask you that which form should i file?

    • Basavaraj Tonagatti

      September 1, 2015 at 11:54 AM

      Himanshu-ITR4.

  42. Anu

    August 31, 2015 at 5:36 PM

    Dear Sir,
    I have rented my car to a company and I get payment after TDS under 194I(A) and 194I(B). I do got form-16A for this.
    I have do not have salary income.
    Which ITR should I to file? ITR-1 (or) ITR-4s?
    Appreciate your clarification and Thank you in advance.
    Regards, Anu.

    • Basavaraj Tonagatti

      August 31, 2015 at 5:49 PM

      Anu-ITR4.

      • Anu

        August 31, 2015 at 6:02 PM

        Thank you for your feedback. My income from car rental is <2L. Can't I use ITR-4s? ITR-4 is asking for balance sheet which i do not maintain.
        regards, Anu

        • Basavaraj Tonagatti

          September 1, 2015 at 11:52 AM

          Anu-From this year, they made it mandatory to have balance sheet.

  43. Abhishek Srivastava

    August 31, 2015 at 4:52 PM

    Hi Basawaraj,

    As per my compensation letter, my taxable income is x lakhs but I worked in that organization till jan 2015. after that I have not worked anywhere till march 2015. So is the total taxable income of 12 month is considered to calculate ITR or I need to calculate only for 10 months. Please suggest.

    • Basavaraj Tonagatti

      August 31, 2015 at 5:13 PM

      Abhishek-Calcualte only for 10 months.

  44. Rohit

    August 31, 2015 at 12:41 AM

    Dear Mr. Basavaraj, I purchased a flat on home loan and am living in it. But the loan amount crosses 65 lakhs. Can I avail the benefit of sec 24 and if yes then which column of ITR 1 should I use. Thanks in advance.

    • Basavaraj Tonagatti

      August 31, 2015 at 10:19 AM

      Rohit-Yes, you can use the interest part of loan to claim under Sec.24. Which form of ITR to use depends on your source of income.

  45. devesh

    August 30, 2015 at 12:19 PM

    Sir,
    I am post office agent my commission 50000 yearly.tds 5000. for refund which form Sugest me.

    • Basavaraj Tonagatti

      August 30, 2015 at 12:41 PM

      Devesh-File IT Return using ITR4.

  46. abhinav

    August 29, 2015 at 1:30 PM

    I have worked only 6 months in a PSU bank , got salary for 6 months and Bank has deducted income Tax on it.
    afterwords i have left the job (no salary), i started tutions at home and earned money for 6 months in the same financial year.so want to know how to file income tax.

    • Basavaraj Tonagatti

      August 29, 2015 at 4:51 PM

      Abhinav-Use ITR4 and file IT return.

  47. Sreedhar

    August 28, 2015 at 5:36 PM

    I have no income from salary or house. Interest on FDs is 14,000/-. Long term CG is 21,000/- (selling of equity shares). Short term CG is 38,000/- (again selling of equity shares). I heard that STCG be adjusted again basic exemption limit if total income is less than basic exemption limit? The ITR2 excel utility downloaded from Incometaxindiaefiling site the values entered in schedule CG are not adjusted automatically although the total amount is below basic exemption limit. Shall it be done manually? If yes how to do it?

    • Basavaraj Tonagatti

      August 28, 2015 at 8:06 PM

      Sreedhar-If it is not updating and adjusting values, then better you do it manually.

  48. Rahul

    August 27, 2015 at 1:13 PM

    Hello Sir,

    Last year I had transferred some money to my wife’s [non working] account and she has earned interest [close to 45k after 10% TDS] on that money through FD. It would be great if you could help me with below questions:
    1. How do I club her income in my IT return. Where exactly can i mention her income?
    2. Can I directly add mine and her “income from other sources”? [the only source for “income from other sources” is FD interest for both of us]
    3. Do I need to mention her PAN number anywhere in the ITR1 form?
    4. After I club my wife’s income, how do I get the refund of the TDS which was deducted from my wife’s account?

    Thank you,
    Rahul

    • Basavaraj Tonagatti

      August 27, 2015 at 1:21 PM

      Rahul-It is lengthy topic, which I can’t explain here. You can go through the IT Dept link.

      • Rahul

        August 27, 2015 at 2:23 PM

        Thank you. It would be helpful if you could just tell which ITR form should I use to file retrun in such scenarios.

  49. KKGUPTA

    August 27, 2015 at 12:04 PM

    My wife does Tuitions at home with cash income. which itr file to be filled.this year and last two years.

    • Basavaraj Tonagatti

      August 27, 2015 at 12:50 PM

      Gupta-ITR4.

  50. sam samant

    August 25, 2015 at 10:36 PM

    I worked in company as intern from 1st Oct to 3rd May so they deduct 10% of payment(11000 pm) but from 8th June 2015 they hired me as employee,

    they have given form 16 A till May-2015 , on the basis of which I have to file tax return. (as I was hired as an employee after the completion of AY 2015-16 they did not give me form 16.)

    no tax is deducted after June 2015.

    which Form should i fiil ??

    Thanks in advance

    • Basavaraj Tonagatti

      August 26, 2015 at 12:15 PM

      Sam-You have to file the return by combining both the income. They might not deducted TDS due to your income range may be below Rs.2,50,000 during that period of time. Hence, it does not mean that you are not liable for tax. You can use ITR1.

  51. Mani

    August 24, 2015 at 6:46 PM

    Sir,
    I have salary income and home loan. I haven’t claimed the last year home loan. How do I claim that in current year and for that which form should I use for return filing? can you please advise?
    Thanks,
    Mani

  52. Vivek Raj

    August 24, 2015 at 6:30 PM

    Hi, Am a Recruitment Consultant and my annual income for 2014 – 15 was 8.56 lacs pa.
    I haven’t maintained any books or P&L or Balance Sheet. so my question is,

    1) Under this circumstances do i need to file ITR 4 or ITR 4s.
    2) If ITR 4, than would i need to show P&L and Balance Sheet statements.

    Please advice.

  53. randhir

    August 24, 2015 at 4:20 PM

    I have a query regarding to file the ITR. One of my friend has rental income approx 2 lakhs and he wants to fill the ITR.
    He don’t have any bank account and all the rental income he received in cash. how can he file ITR?
    He received this rental income from mine and I have shown this rent paid (HRA) to him in our office records with his PAN number. So he wants to file the ITR.
    Kindly let me know the way to proceed the ITR filing?

    Best Regards
    Randhir

    • Basavaraj Tonagatti

      August 24, 2015 at 5:58 PM

      Randhir-He has to use the ITR1 in case he is receiving this property income from a single property. If he have multiple property income then ITR2A.

  54. Manoj

    August 24, 2015 at 3:41 PM

    Hi Basu,

    Need some clarification!!

    I am a salaried person and got a Form16. Also, I opened an FD account and closed in 1yr for which I got a TDS certificate (i.e. form16A) from Bank. So wanted to know, is it necessay that I need to submit the Form16A while filling. Since I noticed that while filling it is asking me to pay more tax when bank has already deducted the tax from my interest.

    Regards
    MKS

    • Basavaraj Tonagatti

      August 24, 2015 at 3:46 PM

      Manoj-Bank deduct TDS at 10%, but if your taxable income falls under 20% or 30% bracket, then you have to pay accordingly. If taxes due, then pay it.

  55. ALFRED PINTO

    August 24, 2015 at 1:26 PM

    I have constructed a house 10 years back and taken loan. I have claimed income tax benefit of both interest and principal. Now I have extended my house and taken loan again. Can I claim income tax benefit again? Pls suggest

    • Basavaraj Tonagatti

      August 24, 2015 at 3:38 PM

      Alfred-If such loan allotted to you as home loan, then YES you can still get the tax benefit.

  56. ashwini

    August 22, 2015 at 9:03 AM

    i am a public sector employee with regular income ..along with that i do stock trading ..which ITR form need to be filled . Kindly suggest

    • Basavaraj Tonagatti

      August 22, 2015 at 8:24 PM

      Ashwini-ITR4.

  57. Subhajit Balniyogi

    August 21, 2015 at 4:36 PM

    Sir,
    I work in Pvt sector Organisation. Company has issued me the Form16 also. But, my organisation has deducted more taxes than actual as it does not include my savings/exemptions e.g. LIC premiums & PPF. So, I am entitled for a refund.
    Also, in my 10 year old PPF account, the interest paid in the FY2014-15 is Rs.60000/-.
    Now, my query is:-
    1. Which ITR is to be filed?
    2. Is my interest in PPF account is to be shown as income? If yes, in which column?
    3. There is a single column for 80c exemption in the ITR-1. Shall I need to put the summed up amount of 2 LIC premiums and PPF in that row? Or there should be separate columns? I have downloaded ITR-1 and found it as only one single row there.
    4. Other than return what are other documents that are needed to be submitted and how? Eg. if I reqd. to submit LIC premium receipts, PPF statement, then where and how on Income tax website?

    • Basavaraj Tonagatti

      August 21, 2015 at 5:13 PM

      Subhajit-1) ITR1. 2) Not required. 3) Yes. 4) No other documents required.

      • Subhajit Balniyogi

        August 21, 2015 at 5:46 PM

        Thanx for your clarification. After your clarification, I have just uploaded the completed ITR-1. And also got the EVC by netbanking. Now, my query is as the 80c) deductions are not shown in my form16 and I have checked in TRACES also, how my refund request will be processed without any proof submitted by me as of now like LIC receipts and PPF account statement?

        • Subhajit Balniyogi

          August 21, 2015 at 5:49 PM

          Under 80c deductions, only company PF(not PPF) contribution is shown.
          Also, I have got acknowledgement for the submitted return.

        • Basavaraj Tonagatti

          August 21, 2015 at 6:39 PM

          Shubhajit-There is no rule that you must submit investment proof to your employer and must reflect in Form 16. You can show them while filing IT Return.

          • Subhajit

            August 21, 2015 at 9:20 PM

            Thanx for the clarification.
            But, in filing IT return I’m showing the investments, but there is no way to submit the proof of them during filing the return. That was my question how to submit the investment proof during filing return or will there will be any system that the proofs might be enquired at later stage

            • Basavaraj Tonagatti

              August 22, 2015 at 8:38 PM

              Subhajit-You no longer submitting the proofs. But mentioning it.

  58. Kutumba Rao

    August 21, 2015 at 10:33 AM

    Hi Sir,
    My wife started trading last year and did intra-day trading & F&O trading. She incurred loss in that trading. She don’t have any other income. This is the first time she is going to file ITR. Which ITR to be used?

    • Basavaraj Tonagatti

      August 21, 2015 at 11:25 AM

      Kutumba-It is business income. Hence, ITR4.

  59. Prijesh

    August 20, 2015 at 11:16 PM

    Sir,
    If i have got Salary Income. And i have got losses from share trading. Which ITR should i file ? ITR 1 is Salary Income that in know. But do i need to show my trading loss ? If no, is it ok to file ITR-1, right ? If i have to compulsory show, which ITR form should i file ?
    thanks

    • Basavaraj Tonagatti

      August 21, 2015 at 11:35 AM

      Prijesh-If trading is short-term in nature then it is considered as business income and you need to use ITR4.

      • Prijesh

        August 24, 2015 at 5:54 PM

        Thank you Sir !! 🙂

  60. Aditya

    August 19, 2015 at 7:41 PM

    I am director of a pvt company and receives professional fees from company u/s 194J. I also have a sole-proprietor business and that comes u/s 44AD as presumptive income.

    1. Which ITR form to use for FY 14-15 since both professional and business income are there?
    2. Which heading professional fees from company be shown?
    3. Which heading sole-proprietor business income be shown ?

    Thank you.

    • Basavaraj Tonagatti

      August 20, 2015 at 1:40 PM

      Aditya-1) ITR4. 2) & 3) Business or Profession income.

      • Aditya

        August 20, 2015 at 6:52 PM

        Thanks a lot for the reply.

        I have not maintained personal books of accounts for FY 14-15 year and have to provide balance sheet and P/L if file ITR 4. Can i file ITR 4s mentioning professional fees as Income from other sources and paying tax? Will there be any problem for filling ITR4s in such situation??

        • Basavaraj Tonagatti

          August 20, 2015 at 8:36 PM

          Aditya-Please check the eligibility of ITR4S.

  61. Rajeev

    August 19, 2015 at 3:49 PM

    I have worked in India till Nov 2014 and TDS was deducted from my salary. Now I have moved to Senegal. The company pays the taxes (I am calculating the tax paid based on the details given by our finance/ accounts deptt). Since I stayed more than 182 days in India, I am considered a resident and so I will be taking tax relief under section 91 (there is no DTAA with Senegal). I have also got some money from LIC P&GS deptt against superannuation and earned interest in savings bank account in India. Please guide me with following queries
    1) Which ITR form am I required to fill?
    2) Where do I show the money received from LIC P&GS?
    3) Is it ok if I show the approx income tax deducted by my present country (Senegal)?
    4) Do I have to club my salary in India and salary abroad, under SALARY?

    • Basavaraj Tonagatti

      August 19, 2015 at 7:13 PM

      Rajeev-1) Use ITR1 2) I don’t know the LIC and GS details. Hence, hard to predict and say whether they are exempt income or taxable income. 3) Approximate will not work out. 4) That you have to discuss with employer as I don’t know your employer is from India or aborad. Also, I am not aware on which status they sent you to other country.

      • Rajeev

        August 19, 2015 at 8:53 PM

        Thanks a lot for your reply.

        1) I am in Senegal as an Expat in a company registered in Senegal (not Indian). Since I am already paying income tax here and am still considered a resident (more than 182 days in India), I need to claim relief against section 91. ITR1 has no such provision for relief under section 91. Does this make ITR2 applicable?
        2)The money from LIC P& GS (Pension & Group Schemes) is against the 1/3rd that I asked for lumpsum when withdrawing superannuation money from my ex-employer in India. This was sent to my account by LIC

        Thanks

        • Basavaraj Tonagatti

          August 20, 2015 at 1:35 PM

          Rajeev-1) It is mandatory to file return if you are claiming exemption under Section 91. I think you should show this in exempt income.
          2) Commutation from pension is taxable income.

          • Rajeev

            August 20, 2015 at 3:08 PM

            There is a separate sheet called FSI in ITR2 where the foreign income is mentioned and the relief under section 91 is entered. In that case, will ITR2 be the correct form to fill?

            Further, there is a sheet called OS in which income from other sources is entered. I want to know where in that sheet will I enter the pension from superannuation and under what head?

            Thanks

  62. Rajiv

    August 19, 2015 at 1:36 PM

    Hi Sir,
    Which ITR form should I use. I have following:
    – Salary
    – Employ stop option. I have purchased some stocks which was provided as employee stock options.
    – Some interest from saving account

    • Basavaraj Tonagatti

      August 19, 2015 at 1:50 PM

      Rajiv-ITR1.

      • Rajiv

        August 19, 2015 at 1:59 PM

        Thank you.
        So the difference of current price of the stock and the price at which I purchased will be considered as salary.. right?

        Thanks

  63. Arvind Kumar Jha

    August 19, 2015 at 1:35 PM

    Arvind Kumar Jha says
    August 19, 2015 at 12:41 PM

    Your comment is awaiting moderation.

    Dear sir,

    I am a salaried person. i got Rs. 255577/- p.a. & also get lic commission for Rs. 203291/- Please tell me how much maximum expenses claim on First year Commission & Renewal Commission in Rs. & percentage, I am waiting your reply

    Thanks & Regards
    Arvind Kumar Jha

    Reply

    • Basavaraj Tonagatti

      August 19, 2015 at 1:54 PM

      Arvind-How much expenses you can show is purely depend on you. But at the same time, if your expenses are irrelevant or something exaggerated then you may get notice also.

  64. mukesh

    August 19, 2015 at 11:28 AM

    Sir, which itr to file for salary (having from 16 issued by company)+ commission income from another company…. rgds mukesh

    • Basavaraj Tonagatti

      August 19, 2015 at 11:44 AM

      Mukesh-ITR4.

  65. Rajesh gupta

    August 18, 2015 at 4:37 PM

    Hello Sir,

    I was working in a company since last 7 years, few month ago i have changed my job and joined another company. I got some amount as a Gratuity from last company. Please let me know which ITR form i should fill and under which section i should show the Gratuity amount.

    • Basavaraj Tonagatti

      August 18, 2015 at 5:05 PM

      Rajesh-Gratuity will be treated as salary. Hence, you have to use ITR1.

      • Rajesh

        August 20, 2015 at 4:53 PM

        Hi Basavaraj

        Thanks for quick respond.

        If i have to go for ITR 1, Please let me know under which section, i should show the Gratuity exemptions.

        I read somewhere that if your exempt income is more then 5000, you should go for ITR 2/ITR2a,
        Is that Gratuity not counted in exempted income.

        • Basavaraj Tonagatti

          August 20, 2015 at 6:06 PM

          Rajesh-The exemtpion of Rs.5,000 is for agriculture income but not for Gratuity.

          • Rajesh

            August 20, 2015 at 7:04 PM

            Alright!

            If i have to go for ITR 1, Please let me know under which section, i should show the Gratuity exemptions.

            • Basavaraj Tonagatti

              August 20, 2015 at 8:36 PM

              Rajesh-List it in exempt income.

  66. Vikas

    August 18, 2015 at 1:52 AM

    Hi Basavaraj,

    I am on a foreign deputation since Jun-2014. There was a TDS deducted by employer on my salary for 2 months (Apr-2014 and May-2014), the 2 months when I was working from India. I also have a foreign bank account in US and EUROPE (my current work country). Which ITR shall I file to claim the refund of TDS that was deducted on 2 months salary.

    Thanks,
    Vikas

    • Basavaraj Tonagatti

      August 18, 2015 at 1:23 PM

      Vikas-It is Indian income and hence you have to use ITR1.

  67. Vinit

    August 17, 2015 at 1:14 PM

    Sir, I’m a salaried employee and having agricultural income of more than 1 lakhs. Please advise which form should I use.

    • Basavaraj Tonagatti

      August 18, 2015 at 1:50 PM

      Vinit-First understand the agriculture income taxation at my earlier post “Is your Agriculture Income really exempted?“.

  68. Ramakrishnan

    August 14, 2015 at 2:10 PM

    Hi,

    I am a pensioner. i have some saving in fixed deposit and the bank had already done TDS for this amount. On filing my return it automatically captures under in Sch TDS (2). should i have to reflect this Sch TDS(2). kindly clarify

    • Basavaraj Tonagatti

      August 14, 2015 at 7:20 PM

      Ramakrishnan-Yes, you have to show it.

  69. Santu Gupta

    August 14, 2015 at 11:24 AM

    Dear Sir

    I have received Salary from my office , and Commission received also other company . TDS deduct 94H on commission @10% . So kindly tell me which type ITR file ? Like 1,2,3 etc

    • Basavaraj Tonagatti

      August 14, 2015 at 11:34 AM

      Santu-ITR4.

  70. Ashish

    August 13, 2015 at 6:18 PM

    Dear sir, I am Lic Agent, my commission for the year 2014-15 is rs 240,000/, and my income for 10-11 was 136000/- 11-12 was 152000/- and for 12-13 was – 189000/- – please tell me am i required fill P&L , & Balance sheet in ITR4 in detail
    Thanks sir in advance

    • Basavaraj Tonagatti

      August 13, 2015 at 6:41 PM

      Ashish-Not required.

  71. Nidhin

    August 13, 2015 at 4:21 PM

    Hello Sir

    I am full time employee of an engineering firm for last 8 years. Last Oct-Dec 2014 i have worked as an insurance agent for oriental insurance and earned total of Rs.2700 as agent commission. I do not have form-16 from the insurance company.

    Since i am not interested to do this business anymore, i have requested for a cancellation of license as well.
    Please guide me, i would like to know in which format i must file. Is it ITR1 or ITR4?
    Since tax is not deducted by insurance company as informed, what should i do? If it has to be paid from my side,how shall i proceed.

    Please help me asap

    Regards
    Nidhin

    • Basavaraj Tonagatti

      August 13, 2015 at 5:36 PM

      Nidhin-You have to file ITR4.

  72. ARUN

    August 13, 2015 at 1:55 PM

    Sir,

    I am working as a Guest teacher in a school. Payments received after deducting TDS under 194J @ 10%.

    1. Can I file ITR-1? inspite of the fact that the TDS is deducted under 194J.
    2. what about ITR-4s – since teaching is NOT specified in the inclusive list of “Professional Services” , is it okay that ITR -4s can be used (instead of ITR 4).

    • Basavaraj Tonagatti

      August 13, 2015 at 3:39 PM

      Arun-Use ITR4 but not ITR4S.

  73. jyotsna gurjar

    August 13, 2015 at 1:43 PM

    i am working in a govt department as a lab tecnision on contract basis. This year My TDS deducted under section 192. Last 5 Years my TDS deducted under section 194j. which ITR i fill this year. If some other income like bank fd interest are also i got this FY2014-15

    • Basavaraj Tonagatti

      August 13, 2015 at 3:42 PM

      Jyotsna-ITR4.

  74. SURESH B

    August 12, 2015 at 4:29 PM

    am lic agent my annual commission is 65000 is whether maintained books of a/c or not

    • Basavaraj Tonagatti

      August 12, 2015 at 5:55 PM

      Suresh-Not required.

  75. Vinod

    August 12, 2015 at 3:04 PM

    we have opened a beauty parlor & boutique. which ITR to be used to file returns.

    • Basavaraj Tonagatti

      August 12, 2015 at 6:08 PM

      Vinod-ITR4.

  76. Avril

    August 12, 2015 at 9:47 AM

    dear sir

    i am working for a private co and i get salary as a professional on which tds under 194j is deducted i do not have any balance sheet nor p/l statementas ia am a simple employee which itr form do i fill ITR 1; ITR4 or ITR 4S

    • Basavaraj Tonagatti

      August 12, 2015 at 10:56 AM

      Avril-If it is professional service then ITR4.

  77. yashpal sharma

    August 9, 2015 at 8:31 PM

    Sir in itr 1 where to show tution fees which is exempt ?

    • Basavaraj Tonagatti

      August 9, 2015 at 8:33 PM

      Yashpal-You have to show that under Sec.80C.

  78. Saleem

    August 7, 2015 at 8:40 PM

    Sir, I show Rs 48000/- but on computation page it shows that income is less than 20 lakh , hence is not comes under exemption. so please clear the same.

  79. Saleem

    August 7, 2015 at 7:24 PM

    Sir, I am a Post office Agent and earned the commission this year Rs. 350000/-. May i deduct the expenses from earning and how much (maximum).

    • Basavaraj Tonagatti

      August 7, 2015 at 8:04 PM

      Saleem-Yes, you can show the business expenses.

  80. Nitish

    August 7, 2015 at 12:22 AM

    sir
    i have income from salery and agriculture. which form used for ITR

    • Basavaraj Tonagatti

      August 7, 2015 at 12:19 PM

      Nitish-ITR1.

  81. JP

    August 5, 2015 at 10:53 PM

    Can u pls suggest which ITR to file for Income from salary and income from LIC commision… Confused between ITR 4 and ITR4S

    • Basavaraj Tonagatti

      August 6, 2015 at 9:54 AM

      JP-ITR4.

      • JP

        August 6, 2015 at 11:06 PM

        but ITR4 is not available on the site…pls suggest

        • Basavaraj Tonagatti

          August 7, 2015 at 12:18 PM

          JP-Check now, they released recently.

  82. Anand Singh

    August 5, 2015 at 10:13 PM

    I’m a doctor by profession and working as consultant in a private company. I’m getting fixed remuneration from the company after deduction of 10% as TDS every month. My gross receiving are about 13 lakhs annually including TDS amount deducted. In which ITR form should i file my return. is it essential or mandatory to maintain account books, a profit loss account or balance sheet by my side if I’m claiming refund of TDS.or how i can ascertain my expenditures and deduction if i follow the option of non maintenance of account books. Request you to kindly guide me.

    • Basavaraj Tonagatti

      August 6, 2015 at 9:57 AM

      Anand-It is ITR4. You can show the business or profession expenditure. Yes, your profession must maintain the book of accounts (irrespective of income).

  83. manoj kumar chowdhary

    August 4, 2015 at 2:34 PM

    I brought the Flat under construction in 2006 and go registered in 2015. . As the Property booked in 2006 and registry done in Jan 2015 and sold in April 2015 to pay my home loan of other house .Home Loan taken in Jan 2015 for new house repaid in July 2015 after sell the flat.Will it attract CG if yes which Index year.

    • Basavaraj Tonagatti

      August 4, 2015 at 2:52 PM

      Manoj-It is a date of allotment i.e 2006 is considered as an acquisition date. Hence, indexation of 2006 will be applicable.

  84. ADINATH DESAI

    August 1, 2015 at 5:23 PM

    hi

    sir,

    i’m a bank daily collection agent. every month i got my commission by cutting TDS.
    now which income tax return form to be fill?

    regards
    Adinath

    • Basavaraj Tonagatti

      August 1, 2015 at 7:20 PM

      Adinath-If it is based on commission then ITR4.

  85. Rajesh

    August 1, 2015 at 1:36 PM

    hi Basu……….i have 3 incomes….namely Salary , LIC commission and income from Shares…………………

    which return i need to file this year…

    best regards,

    Rajesh
    9872289049

    • Basavaraj Tonagatti

      August 1, 2015 at 7:28 PM

      Rajesh-ITR4.

  86. jennifer

    July 30, 2015 at 2:58 AM

    Hi sir
    im not able to find form ITR 4 for TDS return. I was a contract emp. And have form 16 A for apr14 to may 14 (ay 2015-2016 ) i have heard that due date for )filing is extended till 31-08-2015 is that correct??

    which form should i download? and can you also please guide me on how to fill the form and the procedure after that?

    Thanks in advance

    • himanshu Bhatnagar

      July 30, 2015 at 10:52 AM

      You need to fill ITR-4, as of now its not available on ITR website, but it will be available by 20th Aug15.
      I am also waiting for this as i m also a retainer employee.

    • Basavaraj Tonagatti

      July 30, 2015 at 12:38 PM

      Jennifer-It is not yet updated.

  87. Himanshu Bhatnagar

    July 29, 2015 at 4:47 PM

    I am working on retainer ship and 10% of salary got deducted every month. for that my company has issued me form 16A. as per your previous post i should use form 4 to fill my return, but i think IT department has brought some changes in forms and i am not able to find form 4 on incometaxindiaefiling.gov.in website.

    please help

    • Basavaraj Tonagatti

      July 29, 2015 at 8:46 PM

      Himanshu-It is ITR4S.

      • himanshu Bhatnagar

        July 30, 2015 at 10:55 AM

        Sir, I think ITR 4S is for presuming income which is available to only eligible business under section 44AD. not for the professional income.

        Please correct if i m wrong.

        • Basavaraj Tonagatti

          July 30, 2015 at 12:13 PM

          Himanshu-Yes you are right.

  88. PAVAN R SAWDEKAR

    July 29, 2015 at 4:39 PM

    My Father in law retired from Pvt Company, but Company appointed again on Contract basis to him , so which ITR Form Use by him

    • Basavaraj Tonagatti

      July 29, 2015 at 8:50 PM

      Pavan-ITR4.

  89. Anuj

    July 27, 2015 at 12:48 PM

    Hi,

    I am not getting the difference between traders and investors.I am a salaried employee and I invest in stocks for last 6 months.I wanted to know which ITR form is suitable for me.

    Thanks In advance

    • Basavaraj Tonagatti

      July 27, 2015 at 4:51 PM

      Anuj-Read my earlier post “All about Tax Liability on Equity Share Trading“.

  90. J

    July 27, 2015 at 10:40 AM

    Hello,
    I have received lic maturity payment with 2% tax deducted as TDS. When filing IT returns where do I enter the income for this. I’m salaried and use itr 1 . I think I don’t have to pay tax nor get refund but I am unable to mention details in itr 1. Do I have to enter maturity amount receivable minus premium paid under income from other sources and pay remainIng tax as per my tax slab (30%)

    • Basavaraj Tonagatti

      July 27, 2015 at 10:59 AM

      J-It depends on tax liability of LIC maturity. Please read my earlier post to know more about the taxability of Life Insurance at “Tax Benefits of Life Insurance“.

  91. hasrat pathan

    July 26, 2015 at 7:16 PM

    Sir,i am working in a private cbse school as a pgt teacher.from my salary 10% TDS is deducted every month. I have filed form no.itr 1 for the refund of my tds.did I file the correct one or it will be cancelled.if so then what should I do now.kindly reply as early as possible. Thanx.

    • Basavaraj Tonagatti

      July 26, 2015 at 8:07 PM

      Hasrat-You did it correctly. Now wait for the refund if you have any.

  92. sanjay

    July 26, 2015 at 5:41 PM

    my dad has given his commercial building to the Bank for the lease. So which form should be file to return TDS. ITR1 or ITR4S?
    Please…

    • Basavaraj Tonagatti

      July 26, 2015 at 6:13 PM

      Sanjay-ITR1.

      • Sanjay

        July 26, 2015 at 6:21 PM

        Thank you sir… you are doing nice help…

  93. Saurabh

    July 26, 2015 at 12:41 AM

    I have 2 queries

    1. my dad gets pension and is also a LIC agent so gets income from commission,
    which form should he use.

    2. my mom is post office agent and gets commission from it and also gets income form renting a house which form should she use.

    • Basavaraj Tonagatti

      July 26, 2015 at 12:44 PM

      Saurabh-Both must use ITR4.

  94. Rahul Gaur

    July 25, 2015 at 5:13 PM

    sir our accountent gives us FORM 16A as a proof of TDS deducted(which he filed quarterly).
    so please tell which itr should I go for finally??
    my basic query was-( sir I work under Nrhm as
    a
    doctor on contraual
    basis..and I get 30000 fix
    per month as per my
    contract.they also deduct
    10% tds I.e.3000.
    I have no
    house,property..only
    have
    some FD n saving bank
    accounts,in which
    interest
    is 4000 total.
    please tell me which itr
    form should I fill for this
    year??)

    • Basavaraj Tonagatti

      July 25, 2015 at 7:23 PM

      Rahul-ITR4.

  95. Vikram

    July 24, 2015 at 11:00 PM

    Hello,
    I have taken a break from job after 10 yrs and left my job 1.5 yrs back and there was no income from salary in FY2014-15. I am also paying home loan and the interest on home loan is around 1 lakh. Which ITR form should I fill this time. Whether it is required this time for my case. If yes, whether I should mention the loan interest under sec12. Waiting for your response. I have filed ITR for the last 11 yrs.
    Thanks & Regards
    Vikram

    • Vikram

      July 24, 2015 at 11:03 PM

      ….contd.
      just to add I had “no income from other sources” as well in FY2014-15

    • Basavaraj Tonagatti

      July 26, 2015 at 1:43 PM

      Vikram-If there is no income then no need to file IT return.

  96. K Agrawal

    July 24, 2015 at 10:41 PM

    I have salary for 4 months-no TDS deducted.

    During next 8 months i had two sorces: 1) salary for which 10% TDS deducted and 2)professional fees where i worked on contract basis-10% TDS deducted here also.
    which form should i fill?

    • Basavaraj Tonagatti

      July 26, 2015 at 1:45 PM

      Agrawal-ITR4.

  97. Raviraj Birajdar

    July 23, 2015 at 8:33 PM

    Dear Sir,

    I worked in company on contract basis so they deduct 10% of payment(14000 pm) but from 1st feb 2015 they hired me as employee,

    they have given form 16A till JAN-2015

    no tax is deduct in feb

    which Form should i fiil

    Thanks in advance

    • Basavaraj Tonagatti

      July 23, 2015 at 8:36 PM

      Raviraj-ITR 1.

  98. rahul gaur

    July 22, 2015 at 10:46 PM

    sir I work under Nrhm as a
    doctor on contraual basis..and I get 30000 fix per month as per my contract.they also deduct 10% tds I.e.3000.
    I have no
    house,property..only have
    some FD n saving bank
    accounts,in which interest
    is 4000 total.
    please tell me which itr
    form should I fill for this
    year??

    • Basavaraj Tonagatti

      July 23, 2015 at 11:08 AM

      Rahul-It is ITR1.

  99. Chandra Mohan Gupta

    July 22, 2015 at 8:16 PM

    Sir,
    Please be intimated that I am 56 year old person and earlier I was salaried person throughout my life and have filed necessary ITR form regularly till Assessment year 2014-15.

    But during the last financial year 2014-15, I was not employed any where, hence having no salary Income during the year. so to meet my family daily expenses, I have no option than to rent out most of the portion of my house to many students on room sharing basis and earned the rental Income around Rs 162000 during the financial year, 2014-15.
    Please note that during the year my Saving Bank Interest income was also less than Rs.1000.

    So, under the above circumstances, please let me know which ITR form, should I file for the assessment year 2015-16 to keep continue its filing and oblige me.

    Thanks & regards.
    Chandra Mohan Gupta
    Mob: 9782479654

    • Basavaraj Tonagatti

      July 23, 2015 at 11:12 AM

      Chandra-ITR2A.

      • Chandra Mohan Gupta

        July 25, 2015 at 10:26 AM

        Sir,
        Thanks for immediate reply.
        Best regards.
        CM Gupta

  100. shanta mane

    July 22, 2015 at 10:24 AM

    i am Post office recurring saving ac agent get commission on the same and TDS is deducted which ITR form is to be filled.

    • Basavaraj Tonagatti

      July 22, 2015 at 11:53 AM

      Shanta-ITR4.

      • chintan choksi

        February 23, 2016 at 2:18 PM

        in which proffesion should categories post office agent and where should I fill my income amount.also wanted to know about tds amount refund for ay 2013-14.

        • Basavaraj Tonagatti

          February 23, 2016 at 10:20 PM

          Chintan-You have to use ITR4. Your’s is business income.

  101. Ritam

    July 21, 2015 at 1:21 PM

    Sir,
    I am a salaried person working in a PSU. In F.Y. 2014-15 I had received an amount of Rs. 9781/- only as an interest of my deposited amount in PPF account. What ITR should I fill for F.Y. 2014-15?

    Regards,

    Ritam.

    • Basavaraj Tonagatti

      July 21, 2015 at 1:59 PM

      Ritam-You can use ITR1.

      • Ritam

        July 21, 2015 at 3:45 PM

        Thank You Sir.

  102. Atul Kumar

    July 20, 2015 at 2:29 AM

    Sir, I have earned stipend during my internship. Tax was deducted on the stipend by treating me as providing professional services to the company. So for filing the returns which form I should fill ?

    Regards
    Atul Kumar

    • Basavaraj Tonagatti

      July 20, 2015 at 11:04 AM

      Atul-ITR4.

  103. nilesh

    July 19, 2015 at 4:52 PM

    dear sir,

    i am a salaried person. i got Rs.160000/- p.a. & also get lic commission for Rs.23000/- FD intrest 12000/- which itr i file for income tax filing.

    thanking you,

    nilesh

    • Basavaraj Tonagatti

      July 20, 2015 at 11:23 AM

      Nilesh-ITR4.

  104. sunny panjwani

    July 16, 2015 at 4:06 PM

    Dear sir,

    I am teaching tution classes at my home and now i want to file it return so itr form i should have to file ?

    • Basavaraj Tonagatti

      July 17, 2015 at 11:10 AM

      Sunny-It is ITR4.

      • chaitanya limberkar

        July 20, 2015 at 3:32 PM

        I am a research student i get stipend and nothing is deducted from it except 200/- professional tax. so i guess i have to file nil return so for that which form i should fill and please provide its link for e-filing.

        • Basavaraj Tonagatti

          July 20, 2015 at 8:47 PM

          Chaitanya-Professional tax is different than the income tax which you have to pay on your income.

  105. Keshav R Bhandary

    July 15, 2015 at 3:09 PM

    I am individual earning pension income and doing online trading in shares & commodities. What is the ITR No. I have to use to file my return for AY 2015-16 and where I have to show my loss in my trading in shares & commodities?

    • Basavaraj Tonagatti

      July 15, 2015 at 3:56 PM

      Keshav-ITR 2.

  106. Arman

    July 13, 2015 at 2:09 PM

    Hi,

    I am a salaried person and I had LTCG in equities last FY.
    Please advise which ITR form should I use?

    Thanks!
    Arman

    • Basavaraj Tonagatti

      July 13, 2015 at 3:36 PM

      Arman-ITR2.

      • Arman

        July 14, 2015 at 5:45 PM

        Thank you sir!

  107. Suneet

    July 9, 2015 at 11:02 AM

    I am a Salaried person and also have income from Bank FD’s. No other source of income.

    But now I want to club my Wife’s(house wife) Income from bank FD’s with my Income.

    Which itr form should I need to use itr1 or itr2A for efiling my return??

    Please guide.
    Regards
    Suneet

    • Basavaraj Tonagatti

      July 9, 2015 at 12:04 PM

      Suneet-ITR1.

      • Suneet

        July 9, 2015 at 12:21 PM

        Thanks for the reply.

        Is there any specific row/column in iTR1 where I can include this Clubbing Income?. I know this will be added in Other Income.
        But how the IT people will come to know that I have clubbed the income in my iTR1.

  108. Dr Saif Siddiqui

    July 8, 2015 at 12:51 PM

    Sir
    I am teaching in govt university department as assistant professor.
    Apart form salary ,I have done other other teaching assignments also (may be called professional income).
    For which form , I should go for in AY 15-16.
    Thanks

    • Basavaraj Tonagatti

      July 8, 2015 at 1:08 PM

      Said-ITR4.

  109. Amit

    July 7, 2015 at 11:36 AM

    In FY 2014-15, I have 6 months income as salary, for which I have received salary certificate from employer and no TDS deducted.
    In next 6 months I have earned as professional fees, straight 10% TDS is Deducted u/s 194J by the employer. I have form 16A for this income.

    I have some other income through FD and savings account interest.

    Which ITR form should I use to claim return ??

    Kindly help.

    • Basavaraj Tonagatti

      July 7, 2015 at 1:26 PM

      Amit-If in second earning there is no relation of employer and employee then it is treated as professional income and hence use ITR4.

      • Amit

        July 7, 2015 at 1:41 PM

        In 2nd income I was treated as employee on contract and I used to get income in terms of stipend. So isn’t there any relation between the employer and me?

  110. BK

    July 6, 2015 at 10:37 AM

    Dear sir, i have Income only from home tut ions that too Off and ON. Which income tax form should be used for filing returns

  111. Dipanjan

    July 1, 2015 at 6:03 PM

    Dear Sir,

    I have pension and interest income, no income from capital gain or house property. However, I am an occasional free lance column writer for dailies for which I receive payment. I also receive an annual royalty for an academic book. But I never had accounts books for incomes from columns and royalty. I simply declared these incomes in my returns earlier.Can you please tell me which ITR form I should use for AY 15-16?

    Regards.

    Dipanjan

    • Basavaraj Tonagatti

      July 1, 2015 at 6:44 PM

      Dipanjan-You have to use ITR4 Sugam.

  112. Prabhakar

    July 1, 2015 at 11:35 AM

    Sir, For LIC agents ITR-4 was used last year, now for AY 2016-16 ITR-4 is not available for download. What to do & which is the other substitute suitable form in place of ITR-4 for sole income of LIC Agents commision

    • Basavaraj Tonagatti

      July 1, 2015 at 3:48 PM

      Prabhkar-You can use ITR-4S Sugam.

  113. naseema

    July 1, 2015 at 5:45 AM

    1 of my friend want to fil back return but he is doing a trading in stock how can he file back . Pls let us knw . He is a salary person too.

    • Basavaraj Tonagatti

      July 1, 2015 at 10:25 AM

      Naseema-Please read my earlier post “How to file revised income tax return?“.

      • naseema

        July 1, 2015 at 3:08 PM

        I want how to fill the itr 4 form

        • Basavaraj Tonagatti

          July 1, 2015 at 3:16 PM

          Naseema-If you don’t know how to fill then better to take the help of an expert of your locality.

  114. Mukul Tiwari

    June 29, 2015 at 1:21 PM

    Dear Basa,

    My wife is an LIC agent and all her earning is from agents Commission. Which form should I fill for tax returns and how can i get the tax claim back.

    Thank you

  115. Dilip Singh

    June 8, 2015 at 3:12 PM

    Dear Mr. Basavaraj,

    My Gross Income was Rs. 101000.00 for the financial year 2013-2014 which details are as under:

    1. Family Pension @ Rs. 1750 x 12 = 21000
    2. Interest on Fixed Deposit = 80000

    Please let me know under which section do i need to show pension amount in itr2 for E-filing for the Assessment Year 2014 – 2015.

    Thanks & Regards,

    Dilip Singh

    • Basavaraj Tonagatti

      June 8, 2015 at 8:21 PM

      Dilip-Pension is treated as your salary income and interest as a Income from Other Source.

  116. kashik bose

    April 24, 2015 at 1:50 PM

    Sir, recently i recd. IT notice to file return for AY 2014-15 (FY 2013-14) .but from2011 to March 2014 i was in singapore . I wrked in india from April 2014 to March 2015 and went to singapore again,and working there. My question is how i can file return for FY 2013-14,when i was not in india?

    • Basavaraj Tonagatti

      April 24, 2015 at 5:09 PM

      Kashik-Whether you went there from Indian company assignment?

  117. Ruchi GUpta

    April 1, 2015 at 12:28 PM

    Sir,

    I having home tuition income and i have a stationary shop. which itr form should i filled to show my income. earliest date of filling itr ay 2015-16. In which u/s i can take rebate for house rent.

  118. VINEET

    March 21, 2015 at 10:40 AM

    1. I am having income giving home tutions. I have to file ITR4 for this income.
    Which code in nature of business section should I select for this.
    2. I downloaded the ITR4 form excel sheet from income tax india website. There are many worksheets in this file. For my income which sheets do I need to fill.
    Please help.

    Regards
    Vineet Sehrawat

    • Basavaraj Tonagatti

      March 23, 2015 at 1:44 PM

      Vineet-All can’t be explained here. If you have confusion then better to take help of tax expert of your area.

  119. Rasendra

    March 19, 2015 at 9:06 AM

    Sir, I am Nifty future trader ( intraday and for week ). now I make loss, which form should I opt for e-filing ? Can I file nil return ? please reply. Thanks.

    • Basavaraj Tonagatti

      March 19, 2015 at 10:07 AM

      Rasendra-Please go through my earlier post “All about Tax Liability on Equity Share Trading“.

  120. Shilpa

    March 15, 2015 at 9:28 PM

    I am employee in a corporate hospital.I am not salaried but it is paid as professional fees with 10 % deduction of TDS. Which ITR form no. should I fill?

    • Basavaraj Tonagatti

      March 16, 2015 at 10:26 AM

      Shilpa-If it is not salary then ITR4.

  121. Munish kumar veram

    March 14, 2015 at 11:52 AM

    Sir,

    i am a business man i have idea co. agency my gross profit in loss but due to commission my net profit is positive which ITR i filed

    • Basavaraj Tonagatti

      March 15, 2015 at 8:47 AM

      Munish-ITR4.

  122. gurpreet singh

    March 13, 2015 at 5:48 PM

    sir
    i am a transport agent .i hire heavy vehicles on commission and i also own 3 trucks in partnership but trucks are registered on my partner’s name. now how shall i maintain to file itr .
    i dont have business on my name but i am a investing partner .

    • Basavaraj Tonagatti

      March 13, 2015 at 6:47 PM

      Gurpreet-I am not an expert in business taxation.

  123. Gurdev Saini

    March 10, 2015 at 1:09 PM

    Dear Basavaraj,

    Since last year I have been working as a Business consultant in India for a foreign company and I am paid retainer fee in $ (USD), there are few quiries regarding Income tax:
    1. Form to be used – ITR4
    2. Nature of business – What code should I select from (Instructions No. 7(i))
    3. Since I work from my own home can I claim some rent towards its usage.
    4. My wife helps me in my job, can I claim some deductions towards her salary.

    Thanks,
    Gurdev Saini

    • Basavaraj Tonagatti

      March 10, 2015 at 2:05 PM

      Gurudev-Yes you are at right track.

  124. Neela

    March 2, 2015 at 2:46 PM

    Sir,

    Its nice to see that you are taking the pains to reply to each and every1’s query. So good of U.

    My query is that I am receiving professional fees (Consequently TDS u/s 194J @ 10% deducted) for contract with

    my co. Hence I am supposed to file ITR 4. Right?????

    But while filing ITR 4 – i am not able to claim my drawings from my capital account under deductions – drawings

    being in the nature of house hold expenses – so kindly guide about the same.

    The regular expenses are set off against the fees in the Income $ Expenditure acct. Right???

    My other sources of income are interest from S. B. a/c and FD’s sometimes only.

    Kindly suggest the course of action.

    Thanks $ Regards,

    Neela

    neelaprashantk@gmail.com

    • Basavaraj Tonagatti

      March 3, 2015 at 7:04 AM

      Neela-How can you claim household expenses? It is not possible. Rest of things said by you are correct.

  125. vijay

    February 26, 2015 at 10:37 PM

    I have take a TOP up Loan of 15 lacs. I have paid 8 lacs through check for LET OUT PROPERTIES.

    Can I get benifit of interest of top up loan? for which i have paid 8 lacs for LET out ptoperties?

    Under which column I can get benifit?

    My second problem is….

    Now we pay service tax on LIC premium….and PLI premium….

    The whole amount (Premium +service tax..) can be shown for dedction for IT ?

    • Basavaraj Tonagatti

      February 27, 2015 at 11:35 AM

      Vijay-Under Sec.24 of Income tax you claim deduction of interest paid. You need to show the full amount not the break up (Premium+Service Tax).

      • Rajesh

        March 19, 2015 at 2:11 AM

        Hi,

        When I try to file the online ITR1 I cant see Sec 24 at all to fill the interest charged on housing loan? Will that be under gain from housing property and be negative. Please let me know
        Also can we claim 80 EE then but then there will be two deductions for same interest paid.

        • Basavaraj Tonagatti

          March 19, 2015 at 10:11 AM

          Rajesh-You find it under deduction. Sec.80EE conditions are as below.
          Purchaser should be first time buyer. i.e. he has never purchased any house and now he is going to purchase a house. Value of the house should not more than 40 lakh. Loan taken by Individual for the purpose of buy a house should not be more than 25 lakh. On the date of sanction of loan individual does not have any own residential house property. Loan for this purpose taken by individual should be from the Financial Institution or Housing Finance Company. For this purpose, loan should be sanctioned between 01.04.13 to 31.03.14.
          Whether you eligible for these conditions?

  126. Avik Mukherjee

    February 23, 2015 at 6:41 PM

    Hi Mr. Basavaraj Tonagatti,

    I’m Indian Citizen and In FY 2014-15 I worked in Singapore in a Singapore Based Organization and my Salary is in SGD and I’m also filling Tax over here in Singapore. Sometime I do remit some of my savings from SG Account to my Indian Savings Account.

    I don’t currently any income in India other than few Quarterly interests in some Fixed Deposits. But the amount of that in a year is not above minimum Tax Slab.

    Apart from this, in this FY, I did some Stock Trading in BSE/NSE, with F&O, margin etc… [As a Trader and not as Investor, viz. transaction squared of with in a Year] and my calculation so far suggest I had net lose (-ve gain) in total of all such stock transaction.

    Also just for information, I’d like to mention that if I Log in to eFilling Website, in ‘Quick e-File ITR’ menu > ITR form Name drop down section I’m only getting choice of either ITR-1 or ITR4S

    Could you please advise how should I proceed for filling ITR and if I need to mention loses in Short Term Capital and if yes then in which section.

    Thanks in Advance….

    • Basavaraj Tonagatti

      February 25, 2015 at 3:40 PM

      Avik-You have too many confusions. Hence request you to file return with the help of tax expert.

  127. raj

    February 23, 2015 at 1:01 PM

    Sir , I teach in a coaching center. I collect fees from the students and pay monthly to the coaching owner. My question is
    1. Is my income is treated as profession or business?
    2. Which ITR form has to be submitted?
    Thanks

    • Basavaraj Tonagatti

      February 25, 2015 at 4:02 PM

      Raj-When you give all the money to owner of coaching then how you earn?

      • raj

        February 27, 2015 at 6:35 PM

        Sir, I collect fees 15000 per month from the students. keep them with me and I pay the coaching owner 1500 Rs per month . remaining money is my income

        • Basavaraj Tonagatti

          February 28, 2015 at 9:57 AM

          Raj-My question is, whether you retain that earning as salary from the coaching owner or professional fee?

  128. SPH

    February 19, 2015 at 7:17 AM

    I work as a consultant. Under
    1. what form should I file Income Tax.
    2. Suppose, my friend repays me monthly for a loan, should I show that as well?
    3. What are the exemptions for consultants – e.g. tel bills, office equip and slab?

    • Basavaraj Tonagatti

      February 19, 2015 at 9:31 AM

      SPH-You need to use ITR4. Loan repayment depends on what was agreement between you and your friend. Exemptions depend on type of consultancy you run.

  129. vijaykant

    February 15, 2015 at 4:52 PM

    i have recently started share trading i want to know what will be income tax structure for me if my over all income for current financial year is under financial year tax slab
    suppose my fy-14-15 earning is 250000 do i need to pay short term capital gain tax
    even if my earning is under respective tax slab please tell me.
    what if i am earning money from
    1> delivery or intraday share trading.
    2> what kind of ITR i Have to fill
    3> what kind of income type it will be called
    and where i have to show this income in ITR form

    • Basavaraj Tonagatti

      February 15, 2015 at 6:12 PM

      Vijaykant-For taxation on equity trading, please refer my earlier post “All about Tax Liability on Equity Share Trading“.

  130. RR Prakash

    February 15, 2015 at 9:46 AM

    Dear Sir,

    I am a tax payer professional working in a private organization. My wife, who is non working house wife, has received a sizable amount thro’ cheque as gift from her mother, who is a tax payer. Further my wife has already some investment in Bank and post office FD thro’ her own savings out of the cash I am giving for house hold expenses, occasional cash gifts from her father / mother etc. Till now she has not filed income tax returns for the interest earned.

    My question is, any gift tax is applicable. If she invests this amount again in bank FD, should she start filing income tax returns separately showing all the interest income earned (existing + new FD), even though it will be well under IT ceiling. Which form she should use for filing income tax returns.

    Weather clubbing provision is applicable in this case or her income can be treated separate and income tax returns can be filed separately.

    Regards

    • Basavaraj Tonagatti

      February 15, 2015 at 1:16 PM

      Prakash-For your wife gift is from mother. Hence it is not taxable. But it must be in written like in a simple gift deed. Yes once she start to earn from this gift amount then it will be taxable in your wife’s hand. Source of income must be important to club. So first understand her income then decide clubbing applies or not.

  131. Krish Chhadwa

    February 9, 2015 at 1:55 PM

    I have filled original income tax return ITR 4 without demanding TDS REFUND for AY 2013-14 at regular time period now i have to demand that refund which ITR should i have to filled…pls help me..

    • Basavaraj Tonagatti

      February 9, 2015 at 1:59 PM

      Krish-Demanding TDS?

  132. Gaurav

    February 8, 2015 at 9:43 PM

    sir i am a physiotherapist and works for charitable organisation and do home visits. which form should i use to file itr?
    thanks

    • Basavaraj Tonagatti

      February 9, 2015 at 7:24 AM

      Gaurav-ITR 4

      • gaurav

        February 9, 2015 at 10:06 PM

        thanks sir

  133. Vinay

    February 5, 2015 at 8:53 AM

    Hi Sir,

    I have worked in 2 companies for the FY 2014-2015, how should I file income tax for this?
    Is there any different procedure other than the normal filings?

    Thanks,
    Vinay

    • Basavaraj Tonagatti

      February 5, 2015 at 9:54 AM

      Vinay-No different procedure. You just need to file the return by showing both the income.

      • Vinay

        February 5, 2015 at 10:34 AM

        Thanks Basavraj! 🙂

  134. mamta ranawat

    February 1, 2015 at 10:28 AM

    My father is a govt.employee. and he is also connected with network marketing and his income genrate from salary and commission.and I heard that any govt. Employee can’t do any other work.so plz give me suggestions…

    • Basavaraj Tonagatti

      February 1, 2015 at 11:42 AM

      Mamta-How your father proceeded with this business in his name when he know that his employer not allow to do it. I suggest him to stop this business if job is more important.

    • mamta

      February 1, 2015 at 9:11 PM

      Sir ..if my father will not update his account no. and don’t redeem his income received from network marketing …..then any problem create for his job or not…

      • Basavaraj Tonagatti

        February 2, 2015 at 12:06 PM

        Mamta-Still I feel it creates problem. Hence before noticing better to stop this business. Instead let him do this business in your mother or someone else name.

  135. Sanjay

    January 24, 2015 at 8:22 PM

    Hi!

    This year my income is only the PF refund that I received in this year after resigning after 9 years of continuous service. While I resigned in the previous financial year, I withdrew my PF in the current FY. I understand that the income is tax exempted but I need to declare the same in my IT Returns.

    How should I account for my income (PF Refund only) in the current FY? Which form should I use and how should I show my income?

    Thanks,

    Sanjay

  136. Kuldeep

    January 22, 2015 at 12:00 PM

    Hello Sir,

    I am kuldeep. I work at government projects as a contract basis and my salary is 28000/month. I also work online. So i got income from my salary + my earning from my online business. I am software engineer so i deliver website/software services to my foreign clients. Earning from online work vary upto 3lakh+ and income from salary is fixed. So i want to know what form i have to fill for my both account and how much tax i have to pay. I also live on rent @8000/month and not having any other plan like LIC etc.

    So could you please help me by knowing about the ITR and what conditions are applicable for me for my both salary and individual online earning.

    Thanks,
    Kuldeep

    • Basavaraj Tonagatti

      January 22, 2015 at 8:12 PM

      Kuldeep-Forms are listed above. How much taxation? It depends on your income. How can I say without knowing the complete picture?

      • Kuldeep

        January 23, 2015 at 1:12 PM

        Thanks Raj for your quick reply. My earning is 5lakh/year. And i pay around 1lakh rent per year.

  137. Raj

    January 13, 2015 at 11:14 AM

    Basavaraj Tonagatti,

    I am an NRI and bought a residential investment property in year 2011 and was under construction till year 2014. I took the NRI Home Loan in year 2011 for the construction of the property and paying pre-emi and emi interest components till date. I am interested to know about how to claim the Home Loan interest for the AY 2012-13, 2013-14 and 2014-15 in the Indian Tax Return.

    Awaiting for your reply here or to my email id: nav_raj07@yahoo.com.au.

    Regards,
    Naveen

    • Basavaraj Tonagatti

      January 13, 2015 at 6:01 PM

      Raj-Please consult your tax expert on the same. Because I am not aware about you fully (income and expenses and how your assets are placed).

  138. Durgawati Devi

    January 9, 2015 at 12:27 PM

    Dear Sir,

    I am a LIC Agent and get my payment as LIC Commission, So With Which Form I have to file return .

    Plz Guide .

    • Basavaraj Tonagatti

      January 9, 2015 at 3:06 PM

      Durgawati-ITR 4.

  139. narender garg

    December 8, 2014 at 3:06 PM

    my sister has tution income income of rs. 219000 which form i choose to efile

    • Basavaraj Tonagatti

      December 8, 2014 at 3:13 PM

      Narender-It is already discussed in below comments. Please go through it.

  140. Senthil

    December 4, 2014 at 5:54 PM

    Hi,

    I have income from Salary and Agriculture, Could you please tell me which income tax return Form i need to use it

    Thanks
    Senthil

    • Basavaraj Tonagatti

      December 4, 2014 at 7:44 PM

      Senthil-It is already mentioned above. Check it.

      • Senthil

        December 4, 2014 at 9:35 PM

        Hi,… My agriculture income is more than 5ok… shall i use ITR2.

        • Basavaraj Tonagatti

          December 4, 2014 at 10:14 PM

          Senthil-Please go through below comments. It is already discussed.

  141. Alka Gupta

    December 3, 2014 at 6:49 PM

    Dear Sir,
    I am having income from home tuition. my income is 1.5 lac per year. which itr form i should fill. I want to fill itr for previous 3 years. so what is the procedure.

    • Basavaraj Tonagatti

      December 3, 2014 at 7:19 PM

      Alka-It is already discussed in below comments. Please go through the comments.

  142. stocks

    November 23, 2014 at 3:50 AM

    sir, I started trading in equity and F&O from September 2013. I did not know that I have to file a IT return for losses. So I missed filing loss in 2012 to 2013 . in this current year from 1st April 2014 to November 21 I made a loss of 1,09,320 Rs . can u please guide me how to fill form . can I do it on my own or CA is compulsory ?

    • Basavaraj Tonagatti

      November 23, 2014 at 12:46 PM

      Stocks-Please read my earlier post “All about Tax Liability on Equity Share Trading” will help you to resolve your doubts.

  143. krishnakant

    November 17, 2014 at 10:02 PM

    Thanks for response. Many experts say that even a normal salaried person gets more than 5000 rs as allowances like travel al, conveyance al, HRA , stitching al, which r exempt from tax . so most of the people comes under ITR 2 .

    • Basavaraj Tonagatti

      November 18, 2014 at 8:50 PM

      Krishnakant-Please cross check yourself the definition of exempted income to the salary allowance you are pointing. I think you confused yourself. If you are not understanding it then better to consult your nearer tax expert.

  144. Krishnakant

    November 15, 2014 at 3:32 PM

    Sir , I am a salaried person and working in Maharashtra and living in ‘Rented’ house . sir I want to e fill my belated IT return .My query is which form should be used if my exempted income which is TA and CA is 18000. secondly what I should fill up in the box ‘Resident’ or ‘Resident but ordinary’. Sir I am the resident of Bihar.

    • Basavaraj Tonagatti

      November 15, 2014 at 5:46 PM

      Krishnakant-You need to you ITR-1 SAHAJ.

      • krishnakant

        November 16, 2014 at 1:35 PM

        Sir. Kindly explain why not ITR 2. In some blogs I read if exempted income is more than 5000 (which includes TA , CA and HRA) require to fill up ITR 2

        • Basavaraj Tonagatti

          November 17, 2014 at 9:16 AM

          Krishnakant-I am not aware about your exempted income. So if the case is so then you can use ITR 2. But not forget to check once again the said deductions will form part of it or not.

  145. Sowmya

    November 11, 2014 at 4:33 PM

    Hi,

    I am a housewife. I am earning money by doing Tailoring (part time) and giving tuition (part time). what ITR should be used. Also can i file returns for last 3 years now? My earning didn’t reach more than 1,50,000/- any year.

    -Sowmya

    • Basavaraj Tonagatti

      November 11, 2014 at 6:01 PM

      Sowmya-Both are considered as business income. So use the forms accordingly which mentioned above. If your earnings are less than specified minimum limit then it is up to you either to file or not.

  146. mohammed

    September 23, 2014 at 6:31 PM

    i have a monthly income from agriculture of rs.25 lacs. i want to file itr as banks ask for itr copies for huge loan requirements. people say me i do not have to pay tax because agriculture income is exempted. however if i want to file itr how can i file.

    • Basavaraj Tonagatti

      September 23, 2014 at 7:35 PM

      Mohammed-Regarding taxation on agriculture income you can refer my earlier post “Is your Agriculture Income really exempted?“.

  147. Inderjit Singh

    September 5, 2014 at 1:21 PM

    An assessee was audited U/s 44AB for AY 13-14. He is a transporter. Have 9 heavy vehicle. For AY 14-15 the turnover is less than Rs 1 crore. Can he file return of income under U/s 44AE. He has rental income from one property. Which form shall he file his return of income.

    • Basavaraj Tonagatti

      September 5, 2014 at 2:13 PM

      Inderjit-I am not an expert related to business income. So I can’t guide you.

      • Inderjit Singh

        September 5, 2014 at 3:20 PM

        Thanks Sir

  148. Sheetal

    September 2, 2014 at 6:18 PM

    Hi, While updating details in the ITR-2, I am supposed to make additional tax payment. The same was as I changed my job and didn’t declare my previous co’s salary. Request you to please guide which form am I supposed to fill for making the tax payment, is it Challan No / ITNS 280 or 281.

    If form 280 what should be the payment type, is it Self Assessment Tax or Tax on regular assessment.

    Looking forward to your response. Thanks in advance.

    Regards
    Sheetal

    • Basavaraj Tonagatti

      September 2, 2014 at 7:58 PM

      Sheetal-So many confusions for you. Suggest you to contact any tax expert of your area to process further.

  149. AMOL GUPTA

    September 1, 2014 at 12:50 AM

    hi…

    I am salaried person And have other part time work on commission also and got the tds certificate of form 16A u/s 194H. Which itr is suitable for me ITR1 OR ITR4?

    • Basavaraj Tonagatti

      September 1, 2014 at 10:34 AM

      Amol-ITR4.

  150. NEHA SINGH

    August 28, 2014 at 8:25 AM

    I am a student and doing insurance business, i have to file my income tax return year of assessment year 2013-14 and 2014-15 to get back the tds amount.
    which form should i fill online.

    • Basavaraj Tonagatti

      August 28, 2014 at 9:33 AM

      Neha-You can use ITR4.

      • shailesh verma

        January 20, 2015 at 7:06 PM

        But Sir, while filing return for AY 2014-15, we can only visualise two forms i.e., ITR 1 or ITR 4S.. So what should we do…..? Which ITR ?

        • Basavaraj Tonagatti

          January 20, 2015 at 7:51 PM

          Shailesh-I don’t think so. Check once again.

  151. B S DOGRA

    August 13, 2014 at 7:10 PM

    Whether exemption of Rs. 2 lakhs for house loan (interest) is applicable to the person who has taken house loan in the financial year 2014-15 (A/Y 15-16) OR applicable to all the other personnel who had taken house loan in the previous financial years like 2012-13 and 2013-14 etc.

    • Basavaraj Tonagatti

      August 13, 2014 at 9:02 PM

      Dogra-Exemption will be for FY 2014-15 irrespective of home loan you have taken.

  152. Vinod

    August 12, 2014 at 11:51 PM

    Hi Sir,

    I am a government employee (Indian Army). My salary include all allowance (like transport allowance) as shown in form 16 (not exempted). How can I claim exemptions for these and which ITR form should I file and where to mention these exemptions.

    Thanks,
    Vinod

    • Basavaraj Tonagatti

      August 13, 2014 at 10:57 AM

      Vinod-You need to use ITR1. If unable to understand how to calculate then take help of expert.

      • Vinod

        August 13, 2014 at 2:05 PM

        Hi Sir,

        Thank you for your valuable response. I have query, suppose my income under head salary in form 16 is 300000 ( including transport allowance ) and lets say my annual transport allowance is 19000 and I want to claim this exemption. Should I mention the income from salary as 300000-19000 = 281000 in the ITR-1 form. And where I mention the exemption for transport allowance.

        • Basavaraj Tonagatti

          August 13, 2014 at 9:17 PM

          Vinod-Please check whether the transport allowance to what extent it is exempted.

          • Vinod

            August 14, 2014 at 9:11 AM

            In my pay slip its 1600/- PM. But I think as per income tax dept. only Rs 800/- PM is exempted.

  153. Swapan Banerjee

    August 12, 2014 at 10:36 PM

    Dear Mr. Basavaraj,

    My Gross Income was Rs. 269479.64 for the financial year 2013-2014 which details are as under:

    1. Family Pension @ Rs. 1803.00 x 12 = 21636.00
    2. Accrued Interest from Savings Account = 2457.00
    3. Interest on Fixed Deposit (Growth & MIS) = 244514.64
    4. Dividend Received from Equity = 872.00

    Apart from above, I do Share Trading.

    Please let me know which ITR form I have to use for E-filing for the Assessment Year 2014 – 2015.

    Thanks & Regards,

    Swapan Banerjee

    • Basavaraj Tonagatti

      August 13, 2014 at 10:35 AM

      Swapan-Family pension in the sense do you have HUF setting?

  154. Shiva

    August 12, 2014 at 10:27 PM

    I am a salaried employee. I have filed ITR – 1 on time. After filing returns, recently, I have received a ledger document(in MS Excel form) from my broker, containing the loss that I incurred in Options and shares trading. Now, I want to file revised returns to include this loss. Please clarify below questions.

    How I can show this loss in revised returns?

    Is this ledger document enough for me as a proof for future references?

    • Basavaraj Tonagatti

      August 13, 2014 at 10:27 AM

      Shiva-First understand whether you did that as a trader or investor? If you did those as a trader then it will be considered as business loss otherwise capital loss. Also remember that such loss can’t be set off against your salary income. Business loss need to be set off against all source of income except salary income. Capital loss-LTCG can be set off against LTCG only but STCG can be set off against STCG or LTCG (Not to other source of income).

  155. Satyam Agrawal

    August 11, 2014 at 10:03 PM

    i have not filled my ITR-I till now. Can i file the ITR now and what should i select in the section “How the return is filed” i.e 139(1), 139(4) etc?

    • Basavaraj Tonagatti

      August 12, 2014 at 11:48 AM

      Satyam-You can still file the return without any penalty.

  156. MEHTAB ALAM

    August 8, 2014 at 5:56 PM

    sir,
    I am a sahara agent having income from commission but i m not able to find the column in ITR 4 to indicate my income. so kindly help me out.

    • Basavaraj Tonagatti

      August 8, 2014 at 7:26 PM

      Mehtab-You need to use ITR4 only. If you have doubt then consult any tax consultant.

  157. Prince Jain

    August 6, 2014 at 3:48 PM

    If i have income from tuition fees only(part time) can i fill ITR-1 and put it in other sources? Because it is specifically mentioned on Income tax site that ITR 1 is only when you have income from interest or family pension under the head income from other sources

    • Basavaraj Tonagatti

      August 6, 2014 at 7:00 PM

      Prince-Yes you can do so. They have just excluded two income for return filing who use this form but not the income you are claiming. So go ahead.

      • mayuri das

        July 7, 2015 at 2:04 PM

        Thank you sir. It was a great help to me as well

  158. SAHIL

    August 5, 2014 at 11:33 PM

    MY TOTAL TAX IS 800000 AND MY PPF IS 65000, HOW MUCH IS EXEMPT INCOME AND WHICH ITR UNDER IT COM ES . I M GOVT EMPLOYEE

    • Basavaraj Tonagatti

      August 6, 2014 at 9:12 AM

      Sahil-You can use ITR1. Because anyhow PPF is exempt income and no need to show yearly interest accrual.

  159. R K Gupta

    August 4, 2014 at 7:07 PM

    Q no. 1- If a person have received income from a commercial property , in which head of which ITR return will be shown.
    Q no.2 – If source of income is tution ( part time at home ) ( to educate students ) , in which head of which ITR return will be shown.

    • Basavaraj Tonagatti

      August 4, 2014 at 7:14 PM

      Gupta-Income from commercial property falls under the income head of “Income from House Property”. If your earning from tution is part time then you can show it under the income head of “Income from Other Source”.

      • R K Gupta

        August 5, 2014 at 2:56 PM

        Q. Total Income is less than Rs. 1.00 lac ( one lac) in following heads including Bank’ interest and no other income except following & Bank Interest .Please tell me ITR return Form no. and last date of submission of filing return for A.Y. 2014-15.

        Q no. 1- If a person have received income from a commercial property , in which head of which ITR return will be shown.
        Q no.2 – If source of income is tution ( part time at home ) ( to educate students ) , in which head of which ITR return will be shown.

        Reply
        Basavaraj Tonagatti says
        August 4, 2014 at 7:14 PM

        Gupta-Income from commercial property falls under the income head of “Income from House Property”. If your earning from tution is part time then you can show it under the income head of “Income from

        • Basavaraj Tonagatti

          August 5, 2014 at 3:17 PM

          Gupta-You can use ITR1. Because you have income from one house property and income from other source. Last date to file the income return is today i.e 5th August 2014.

  160. JAYESH PATEL

    August 3, 2014 at 11:50 PM

    Dear Basavaraj,
    First i appreciate for all the guidance you are providing to everybody. Now coming to my issue, i am a salaried employee with only income from salary and my Gross total income is below the slab rate. But my Form 16 shows that the EXEMPT INCOME u/s 10 is greater than Rs 63600/-( Transport all 9600, Travel all. 30000 Uniform all. 24000)., which ITR form should i go for?

    • Basavaraj Tonagatti

      August 4, 2014 at 11:41 AM

      Jayesh-If your exempt income is more than Rs.5,000 then use ITR2.

  161. Raju

    August 1, 2014 at 2:33 PM

    I am a salaried employee, part-time LIC agent and also stock trader. Last year I have received Rs. 81755 towards LIC commission and expediture Rs. 21650. Also I have loss of Rs. 131042 in F&O and Rs. 1374 as short time capital loss from equity. How can I show LIC commission? Should it be ‘Income from Other Sources’?. Do the F&O loss is set-off after income from LIC agency. How much F&O loss I can carry forward?

    • Basavaraj Tonagatti

      August 1, 2014 at 7:39 PM

      Raju-You need to show your agency commission under head of business. Also your loss in f&o are treated as business loss. STCL is for equity-Whether you invested in stocks as trader or investor?

  162. Hanit

    July 31, 2014 at 6:10 PM

    Hi, I checked many data sites. I found ITR1 will be used if I am salaried & have only one home where I am staying now and paying EMI. Getting some money from bank saving interest

    Query 1: How much I can avail rebate on Interest, as I have paid for home in Dec’12 but gets possession in April’13. Also get registered with home in June’13. So it will be 1 Lakh + 1.5 Lakh or just 1.5 Lakh.

    Query 2: Where to fill in rebate information in ITR1 form.

    I seriously need your help, as today is last day. Please help!

    • Basavaraj Tonagatti

      August 1, 2014 at 9:43 AM

      Hanit-Interest will be actual or Rs.1.5 lakh, whichever is higher. It is specifically mentioned in the form. Please go through it.

  163. Gangadhar prasad

    July 31, 2014 at 3:38 PM

    I have 2 questions sir !

    1. I have income from sell of shares (share market). Which ITR form should I use ?
    2. I have income from salary and sell of shares (share market), then which ITR form should be used ?

    • Basavaraj Tonagatti

      August 1, 2014 at 9:56 AM

      Gangadhar-Whether those sell of shares are as investor or trader? Also whether they will come under LTCG or STCG?

      • Gangadhar prasad

        August 16, 2014 at 4:22 PM

        Sir,
        Sell/purchase of shares as trader, you can say. Short term basis (shares sell around 6 months of their purchase etc. not long term investment). Sell/purchase regulary not for very long period. This is on personal basis and not by making any firm. Pls reply on these basis.

        • Basavaraj Tonagatti

          August 16, 2014 at 7:18 PM

          Gangadhar-I myself confused with your lines. Can elaborate more about what your doubts?

  164. anup

    July 31, 2014 at 11:34 AM

    i have income from salary and professional fees as well. which ITR form do i file? please guide

    • Basavaraj Tonagatti

      July 31, 2014 at 12:52 PM

      Anup-ITR4.

      • Ramkumar

        July 31, 2014 at 5:20 PM

        I am having confision in my returns in efilling. I was an salaried employee from Apr13 to Aug 13. Subsequently, i was a technical consultant to one firm and getting monthly payment. Both the organisation paid some TDS. Now, which form to use for filling. I tried ITR4s but it looks basically for heavy vehicles owner etc. I dont have any firm ownership are so. What is the way out. Since, today is the last date, reply me ASAP.

        • Basavaraj Tonagatti

          August 1, 2014 at 9:52 AM

          Ramkumar-Whether that consultancy is like job or like freelancer? If it is like freelancer then you need to treat that as profession along with your normal job. Hence file with ITR4.

  165. Hanit

    July 31, 2014 at 7:40 AM

    I am repaying Home Loan and also staying in same home. Interest rate is more than 1.5 Lakh. Where to mention this while filling ITR, I am filling it online? Could I get reply soon, today is last date of filling the same.

    • Basavaraj Tonagatti

      July 31, 2014 at 9:27 AM

      Hanit-Home loan interest deduction will be under Sec.24B.

      • Hanit

        July 31, 2014 at 2:47 PM

        Hi, Sorry to say but I didnt find this section in ITR1 form. Could you describe more, I mean which page or which row number etc.

        My Old query:

        I am repaying Home Loan and also staying in same home. Interest rate is more than 1.5 Lakh. Where to mention this while filling ITR, I am filling it online? Could I get reply soon, today is last date of filling the same.

        • Basavaraj Tonagatti

          July 31, 2014 at 2:56 PM

          Hanit-I hope this LINK will help you.

          • Hanit

            July 31, 2014 at 3:41 PM

            Seems I lost way … It seems ITR1 cant be used for this purpose, ITR2 will be used ? Am I Correct? if Yes, could you define where to do this

  166. PRAVEEN

    July 31, 2014 at 1:28 AM

    hi sir ,
    I am salaried emp in IT firm.which ITR 1/2/3/4s return form i need to submit? plz reply ASAP. thx

    • Basavaraj Tonagatti

      July 31, 2014 at 9:36 AM

      Praveen-Please read above conditions. If you don’t have any other income than salary then use ITR1.

  167. Ivneet

    July 30, 2014 at 11:01 PM

    I am partner in partneship firm. Our firm provides BPO services. I have no other income. Which ITR am I required to file? Also there are no profits this year as it was th first year. So i dont any income to show. Also which ITR will be filed for the Partnership[ Firm.

    • Basavaraj Tonagatti

      July 31, 2014 at 9:53 AM

      Ivneet-If you don’t have any income then why to file ITR?

  168. SANJAY KUMAR

    July 30, 2014 at 9:18 PM

    Hi,

    I am a salaried person and have taken a home loan and paying interest on that to the bank. The Flat is still under construction with the builder and possession is expected in June 2015. Please advise:

    If I have to make provision for the interest paid in the current year, in ITR 2 under CFL sheet (Carried Forward to future years) as this couldn’t be adjusted as possession is not there OR I just need to accumulate that amount (without mentioning that in the ITR2 in the current year) and can claim the adjustment for the entire amount in one go in the year when the possession would be provided?

    Your help and guidance on the above would be much appreciated.

    Thanks & Regards,
    Sanjay

  169. Dhairya Prakash

    July 30, 2014 at 7:35 PM

    sir, i am salaried person and i have agriculture income too (60000 Rs). when i am e filing return online the form selection option only shows for ITR1 and ITR4s. which form should i select. if ITR2 is suitable for me then what should i do for e filing of ITR2 form?

    • Basavaraj Tonagatti

      July 31, 2014 at 9:57 AM

      Dhairya-Use ITR2.

  170. NIRAJ KESARIYA

    July 30, 2014 at 6:16 PM

    Dear sir,

    i m a senior citizen having income from insurance commission, pension and professional fees and interest on fd. which ITR i m supposed to use.?

  171. Sandip Shete

    July 30, 2014 at 5:38 PM

    I am Salaried person & also part time lic agent i am confuse to file the ITR return form ITR-4 or ITR-4Sugam

    kindly suggest me which form I will filed urgent

    • Basavaraj Tonagatti

      July 30, 2014 at 6:57 PM

      Sandip-Use ITR4S.

    • ANIL

      July 30, 2014 at 8:36 PM

      YOU CAN USE ITR 2 ALSO. JUST SHOW YOUR INCOME AS OTHER SOURCES.

  172. S. Man

    July 30, 2014 at 5:36 PM

    Basavaraj,

    Few question regarding the ITR1 exception clause – “Income from Agriculture/exempt income in excess of Rs.5,000”:

    a) What constitutes “exempt income”?
    b) Should interest on savings bank (SB) account less than Rs. 10,000 (and hence not taxed) and interest on PPF account be considered as “exempt income”?
    c) What about PPF amount? If my income sources are only salary and interest on SB & PPF account, and my PPF contribution is 1 lakh (which is greater than Rs. 5000) should I use ITR1 or ITR2?

    Thanks.

    • Basavaraj Tonagatti

      July 30, 2014 at 6:56 PM

      Man-There is separate calculation for agriculture income. Exempt income constitute huge list. Please google it for the same. Yes savings bank interest less than Rs.10,000 is exempt under Sec.80TTA. You too can consider PPF interest as exempt. If your exempt income is more than Rs.5,000 then ITR2.

      • S. Man

        July 31, 2014 at 11:07 AM

        Thanks for the reply, Basavaraj.

        I wish our IT dept. simplifies the IT sections. They took a right step in mandating online filing and simplifying the returns filing. But they have now muddled the waters with this exempt income clause.

        Anyways, your pointer regarding PPF interest clarified things for me. It is ITR2 since my PPF interest is more than 5000/-

        • Basavaraj Tonagatti

          July 31, 2014 at 12:50 PM

          MAN-K.

  173. NIRAJ KESARIYA

    July 30, 2014 at 5:31 PM

    i m a senior citizen having income from LIC as insurance commision, and professional income only..which ITR i suppose to use..? please reply early..

    • Basavaraj Tonagatti

      July 30, 2014 at 6:51 PM

      Niraj-ITR4.

    • NIRAJ KESARIYA

      July 30, 2014 at 7:09 PM

      ok thank you sir..but actually i forget to write..i have also pension income and interest income on fd..so in total i have income from Pension+LIC insurance commission+professional fees+Interest on FD..then whether i require to file ITR-4 or ITR-4s or ITR-1..?? little bit confusion..

      • Basavaraj Tonagatti

        July 30, 2014 at 7:19 PM

        Niraj-ITR4S.

        • vinod

          August 15, 2014 at 9:36 PM

          Sir,
          As per my knowledge, Sec. 44AD is not applicable on a person having income from coommission or brokerage or having any agency business..
          So, I think ITR 4S is not the right choice for person instead ITR 4 is the right choice

          • Basavaraj Tonagatti

            August 16, 2014 at 2:14 PM

            Vinod-Thanks for your sharing.

  174. bharath

    July 30, 2014 at 5:01 PM

    I am a salaried person, I have 1 property and let out for rent at chennai, paying EMI. Currently staying in Mangalore paying rent (so income from other source property minus interest on home loan is eligible for Tax benefit?). Also let me know which ITR to use, ITR1 or ITR2?

    • Basavaraj Tonagatti

      July 30, 2014 at 6:49 PM

      Bharath-Whether you are getting HRA and how you are claiming that?

  175. prakash chauhan

    July 30, 2014 at 4:37 PM

    I am a govrnment emloyee.i took home loan last year.my income is below 5laks..for showing home loan interest which ITR form should i fill?

    • Basavaraj Tonagatti

      July 30, 2014 at 6:45 PM

      Prakash-Use ITR1.

  176. Rohit

    July 30, 2014 at 3:46 PM

    Dear Basavaraj,
    you have been amazing in answering queries of people – this is great. thanks for your help in advance i have three queries
    A) income from saving interest – should it be shown as other income in ITR 1 if the person has other salary income below 1,00,000?
    B) income from fixed deposit interest – should it be also shown as other income?
    C) is there a need to show income from dividend anywhere in ITR 1 or would one have to fill ITR 2 for it?
    rgds

    • Basavaraj Tonagatti

      July 30, 2014 at 6:43 PM

      Rohit-Yes interest income will be treated as “Income from Other Source”. What type of dividend it is?

  177. Manish

    July 30, 2014 at 3:18 PM

    Dear Basu,

    I work for LIC(life insurance corporation of india) and they have given me only Form 16 Part A not Part B. So I am little bit confused which ITR form to use to e-file my returns? and can I file my return without PartB also?

    Thanks

    • Basavaraj Tonagatti

      July 30, 2014 at 3:24 PM

      Manish-You need to use ITR4.

  178. K.R.Vasudevan

    July 30, 2014 at 2:33 PM

    I am a senior citizen. My total income is as follows.
    Pension @1712*12 20544
    FD interest 125079
    STCG (Equity) 3687

    Total 149310

    My total income is below exemption limit of 2.5 lakhs. So if it is necessary to file return ? If yes which form to be filled ?

    • Basavaraj Tonagatti

      July 30, 2014 at 3:15 PM

      Vasudevan-It is not necessary but in future if someone asks for your proof of income then this IT Return will be useful. You can use ITR2.

  179. Swati

    July 30, 2014 at 12:30 PM

    Hello

    I work for a private company that pays me monthly salary and deducts 10% of my salary every month. They provide a quarterly Form 16A. Please suggest which ITR form to use to e-file my returns? Does my income come under salary or profession..Please clarify.

    Thanks

    • Basavaraj Tonagatti

      July 30, 2014 at 12:39 PM

      Swati-Your income comes under salary and you can use ITR1.

  180. Shekhar Singh

    July 29, 2014 at 10:52 PM

    I am a salaried person with bank interest and income from mutual & equity short term investments.
    Which ITR form do I need to fill to file Income Tax Returns?

    • Basavaraj Tonagatti

      July 30, 2014 at 12:14 PM

      Shekhar-If your mutual fund and equity investments are like trader then you need to file ITR4, otherwise file ITR2.

  181. Raj

    July 29, 2014 at 8:43 PM

    Does a housewife whose income from any other source is nil, and made a loss of 1 lac Rs on F&O trading, needs to file IT returns ? She trades F&O actively.
    Following 2 opposing points are causing confusion. Please clarify
    1) Her total income is below exemption limit of 2 lacs, so she should not have to file taxes
    2) Since F&O trading is classified as business income, and any business has to file tax irrespective of profits or losses, so a housewife who made a loss from F&O trading, will have to file taxes.

    • Basavaraj Tonagatti

      July 30, 2014 at 12:19 PM

      Raj-Filing will be advantage for her. Because she can set off her losses with other source of income (except salary). But the source of amount she bought for trading must be explainable. Otherwise it will create problem for her.

  182. sriniwas

    July 29, 2014 at 5:41 PM

    Dear Basavaraj,
    First i appreciate for all the guidance you are providing to everybody. Now coming to my issue, i am a salaried employee with only income from salary and my Gross total income is below the slab rate. But my Form 16 shows that the EXEMPT INCOME u/s 10 is greater than Rs 5000/-, which ITR form should i go for?

    • Basavaraj Tonagatti

      July 30, 2014 at 12:33 PM

      Srinivas-Use ITR1.

  183. Rajat Sharma

    July 29, 2014 at 12:35 PM

    Hi,

    My name is Rajat Sharma. I am filling my Income Tax Return at the moment but have gotten very confused due to some reasons. I need your help.

    I am not working at the moment and left my job in 10th January-2014. In my last job, I worked for 1 year and 10 months from 30th April-2014 – till 10th January-2014 (KEC International Limited) and prior to this company I worked for General Electric and there also I worked for 1 Year and 10 months (from 14th July 2010 – till 20th April 2012).

    So the total working time for is less than 5 years.

    When I changed my Job from GE to KEC, I got my PF amount of GE (around INR 1.13 Lakhs) transferred to KEC PF account, so I did not have to pay any tax on this. But now when I left KEC, I applied for PF amount withdrawal and I received an amount of around INR 1.70 Lakhs, which was a total of my GE’s PF amount and KEC’s PF amount and a TDS of INR 4,655/- was deducted from my total PF amount to be received, which as per KEC officials, was only deducted from the PF amount earned during my working in KEC and no TDS was deducted from my PF amount from my working in GE.

    Now, when I checked my Form 26AS from Income Tax website, it shows 2 TDS deductions from me, one is the TDS deducted from my salary earnings during this year by KEC International Limited (TAN No. MUMK14211B) and second is the TDS deducted by KEC International Limited Provident Fund (TAN No. MUMK14909G), from the PF amount withdrawn by me.

    I have TDS certificates for both.

    Now I am confused what should I do and how should I fill my ITR?

    Q.1. Should I consider the entire PF amount (GE + KEC), while filing the ITR or should I consider only the amount earned in KEC?

    Q.2. Should I consider only my contribution to PF or should I include the employer’s contribution to the PF also in the ITR?

    Q.3. Can I add my PF amount with the salary amount of the year or should both the amount be shown separately and procedure for ITR should be as is for two Form-16s?

    Please help, I shall be highly thankful to you for your support. In case, you need any other information, please let me know.

    Thanks
    Rajat Sharma

    • Basavaraj Tonagatti

      July 29, 2014 at 12:41 PM

      Rajat-You have lot of confusions. But I will try to resolve it by providing a link about taxability of EPF. If you still have doubt then better to consult any tax expert of your area and get it done.

  184. krishna prabhu

    July 29, 2014 at 11:45 AM

    I am a individual, having only salary income which is more than 5 lakh, one house where i am staying , taken housing loan in 2007, interest and principle both getting rebate, which ITR i have to use ?
    I planning to do online return file ,

    • Basavaraj Tonagatti

      July 29, 2014 at 12:20 PM

      Krishna-ITR1.

  185. amit tiwari

    July 28, 2014 at 10:47 PM

    my gross salary-300603/-
    home loan interest-47248/-
    deduction-80 c- 900662/-
    sir i have already filled up ITR-I
    some person are told me u also fillup ITR-II
    give me suggestion about ITR-II

    • Basavaraj Tonagatti

      July 29, 2014 at 11:13 AM

      Amit-Don’t believe on any one. First check above conditions for both ITR 1 and 2. Then based on your income and eligibility conditions use the forms.

  186. Namita Kumari

    July 28, 2014 at 5:42 PM

    Hi, Basavaraj,

    I am a home maker and earn some money through giving tutions to school students. Please clarify:

    1. Which Form I should use for filing return, ITR1 or ITR4S?
    2. Also clarify, if this service attracts Service Tax? If yes, then how to show the same in the return I will file?

    Thanks in advance for all your help and guidance.

    Regards,
    Namita

    • Basavaraj Tonagatti

      July 29, 2014 at 11:51 AM

      Namita-You need to use ITR4. But I am not sure about service tax applicability on your service. So contact your CA on the same.

  187. Deepak

    July 28, 2014 at 12:39 PM

    I am salaried single income. Lost money last year on shares. How to declare this loss so that my future profit is settled with this loss? I don’t see any head for this in ITR-1.

    • Basavaraj Tonagatti

      July 28, 2014 at 1:20 PM

      Deepak-First let me know whether you are investor or trader?

      • Deepak

        July 28, 2014 at 2:43 PM

        I am salaried person making small investments in shares. But it is mostly for short term gains.

        • Basavaraj Tonagatti

          July 28, 2014 at 3:04 PM

          Deepak-In that case that is treated as business income and you need to file in the ITR4.

  188. VIJAYANAND S

    July 28, 2014 at 12:30 PM

    Dear Basavaraj Tonagatti,
    I need to fill tax. But i’m confusing with ITR1 and ITR4s. I’m a contract employee and every month they deducted 10% from my salary. And they have provided Form 16a also.
    Kindly please help on this.

    • Basavaraj Tonagatti

      July 28, 2014 at 1:19 PM

      Vijayanand-Use ITR4.

  189. Vimal

    July 28, 2014 at 10:36 AM

    Dear Sir,
    I sold my only house in feb’14. I paid more than my long term capital gains to a new builder as my initial payment in July’14. Am a salaried person who has form16 from my company. Which form to fill and how do I show my capital gains transactions during filing?
    Appreciate your efforts is replying to each and every questions.

    • Basavaraj Tonagatti

      July 28, 2014 at 10:38 AM

      Vimal-You have salary income as well as LTCG. So use ITR2.

      • Vimal

        July 28, 2014 at 10:40 AM

        Thank you very much.

  190. Yashwant Laxkar

    July 28, 2014 at 10:22 AM

    Sir,
    i worked as a consultant for 8 month than 4 worked as a salaried employee . for initial 8 month TDS deducted by company . could i know which ITR should fill for ASS Year 2014-15.

    • Basavaraj Tonagatti

      July 28, 2014 at 10:35 AM

      Yashwanth-You can use ITR4.

  191. Pankaj Panjiar

    July 27, 2014 at 10:53 PM

    I am a salaried person, I have 2 property one is self occupied and for 2nd i did not receive possession yet (so no income from 2nd property). Which ITR to use, ITR1 or ITR2?

    • Basavaraj Tonagatti

      July 28, 2014 at 8:41 AM

      Pankaj-Use ITR2.

  192. sudhir dwivedi

    July 27, 2014 at 10:32 PM

    Sir my total income from salary is Rs. 671013 and HRA=CONVEYANCE exemption u/s 10 is Rs.49839 as i am living in RENT.SO I FILLED

    1 Income from Salary / Pension (Ensure to fill Sch TDS1) 1 6,71,013
    2 Income from one House Property Let Out 2 -49,839

    is it correct or should i FILL 621174 in my income from salary and nothing in income from house property. please guide.

    • Basavaraj Tonagatti

      July 28, 2014 at 9:00 AM

      Sudhir-HRA is not income from house property. If you are not understanding all these things then better to take some expert help.

  193. HARSHALI

    July 27, 2014 at 4:53 PM

    Sir,

    I am working in health ministry totally on contract basis & getting consolidated income.
    For the same an outsourcing agency give us salary by cheque.
    The agency not giving us any Form 16 or 16A.
    My question is:-
    1- Which ITR should be used.
    2- Is my Income comes in Salary or it comes in profession.

    • Basavaraj Tonagatti

      July 28, 2014 at 7:59 AM

      Harshalli-You can use ITR4. No your income is not considered as salary instead it is professional income.

  194. Varun

    July 27, 2014 at 2:47 PM

    Sir,
    I have filed ITR-1 regarding salary which contains other component like exemption for Conveyance allowance and HRA. I have no other source of income except saving bank interest. My conveyance and HRA allowance exemption exceeds Rs. 5000. Whether should I revise the return and file ITR-2.

    • Basavaraj Tonagatti

      July 27, 2014 at 2:55 PM

      Varun-If you already filed correctly then why once again?

      • Varun

        July 27, 2014 at 2:58 PM

        Sir actually i have doubt regarding exempt income. We will consider HRA and Coveyance allowance under exempt income or not? And in my case both are exceeding Rs. 5000.

        • Basavaraj Tonagatti

          July 28, 2014 at 7:53 AM

          Varun-HRA exemption depends on how much rent you pay actually and it is separate calculation. Regarding conveyance allowance either Rs.800 per month or actual expenses you incurred (need to submit proof) will be exempt.

  195. Bipin

    July 27, 2014 at 1:26 PM

    I am working on contract with a software company as consultant and company has provided a Form 16 with Income as Rs 190000 and deducted 10% tax. Please let me know which ITR to be used for efiling.
    Also I see only ITR1 and ITR4S on efiling.
    Please help me with ITR form to be used.

    • Basavaraj Tonagatti

      July 27, 2014 at 1:32 PM

      Bipin-You consultation is treated as business income. So file with ITR4.

  196. Vaani

    July 26, 2014 at 6:44 PM

    Continuing from earlier comment…..

    Also, my company provides me with Form 16A for TDS, so which ITR form do I need to use?

    Thanks

    • Basavaraj Tonagatti

      July 27, 2014 at 12:47 PM

      Vaani-Same answer i.e. ITR1.

  197. Vaani

    July 26, 2014 at 6:38 PM

    Hi..

    I work for a private company and am paid salary monthly, no other source of income, my company deducts TDS every quarter, I would like to know which ITR form I need to use?

    Thanks in advance.

    • Basavaraj Tonagatti

      July 26, 2014 at 6:40 PM

      Vaani-You can use ITR1.

  198. Immanuel livinston.G

    July 26, 2014 at 12:54 PM

    Sir

    pls clarify

    1) Iam working in private company

    2) Mean time i worked as a consultant

    3) All my payment recd by cheques

    4) Nobody deduct any TDS

    5) Can i hide consultancy income for my IT return

    6) Which ITR should i file

    Pls advice me

    • Basavaraj Tonagatti

      July 26, 2014 at 5:54 PM

      Immanuel-Why to hide?

  199. Sarang

    July 26, 2014 at 12:35 PM

    Hi ,
    I am salaried person and has recently purchased a flat where my parents are living since my job is another city . now how can i claim tax benefits for expenses occurred during the stages
    1) 1.5 lac expense on agreement for house from builder to get home loan sanctioned in august 2013
    2) my home loan EMI started from Dec 2013 for part payment to builder since flat was under construction and loan was disbursed as per construction stages
    3) i got flat possession in June 2014 and had sale deed in June 2014

    these benefits were not declared to employer since it came after declaration and my advance tax deduction was started already , so now how can i claim for tax benefits and in which sections to fill these details during filing online return before 31 july 14

    expecting expert advice on the same .

    • Basavaraj Tonagatti

      July 26, 2014 at 5:53 PM

      Sarang-You can use ITR1. Regarding filling form based on your home loan requirement, please contact your CA or any local expert in tax matter who can come and do the return part physically.

  200. Kumar

    July 25, 2014 at 8:15 PM

    Hi Basu,
    I am salaried professional.I have 2 houses in my current city and native.Both are under home loan and self occupied.I am not earning any income through house rent.Which ITR form should i submit 1 or 2?
    Thanks in Advance
    Kumar

    • Basavaraj Tonagatti

      July 25, 2014 at 8:44 PM

      Kumar-Use ITR2.

  201. Rohit

    July 25, 2014 at 7:21 PM

    Hi Basavaraj,

    Thanks for the details.

    I have received commission / brokerage, and my employer also provided me with Form 16 A Certificate.
    Please suggest which form should I used – ITR2/ ITR4?

    I want to file IT return only against commission received.

    Rohit

    • Basavaraj Tonagatti

      July 25, 2014 at 8:03 PM

      Rohit-ITR4.

      • CHeitan

        August 23, 2015 at 9:33 PM

        I am a salaried professional, I always use ITR-1 to file/e-file income tax. This year I booked a flat via broker and he paid me back some commision/brokerage and deducted TDS u/s 194H. I found out this TDS info from Form 26AS. So I have 2 TDS deductions 192(salary) & 194H. Though I have paid all my taxes and expecting no tax refund, Still I want file the returns correctly. I am not sure, which ITR form to be used in this scenario and where to report this Commission income.??

        • Basavaraj Tonagatti

          August 24, 2015 at 10:17 AM

          Cheitan-If it is mentioned as brokerage income for which TDS was done, then use ITR4.

          • Cheitan

            August 27, 2015 at 12:53 PM

            Dear Basu,

            can you help to know where to report this Commission income??which field??

  202. Dr Manish Kumar

    July 25, 2014 at 4:44 PM

    Hi Basavaraj Tonagatti,
    1) I am a salaried person (income under section 192) and my salary is in 20% slab.
    2) In financial year 2013-2014, I have received an amount of 35000/- (through cheque) from a pharmaceutical company for once only with 10 % TDS (3500/-) under section 194J.
    Kindly guide me that
    1) Which ITR form should I fill.
    2) And where/ in which column of specified ITR form I have to write amount of 35000/- under section 194J.
    Please help me and reply soon.
    With regards

    • Basavaraj Tonagatti

      July 25, 2014 at 7:57 PM

      Manish-In your case you have salary income as well as professional income. So you need to use ITR4. You need to mention the amount of Rs.35,000 under head of income from profession.

  203. Prajakta

    July 25, 2014 at 3:18 PM

    Where to enter the amount of interest on home loan in online filing of ITR. Please tell me as i have to file my ITR.

    • Basavaraj Tonagatti

      July 25, 2014 at 3:52 PM

      Prajakta-You need to enter them under tab of Income details.

  204. Asha

    July 25, 2014 at 2:18 PM

    I am a senior citizen. On my income in the financial year 2013-14, certain amount of IT is not paid . Shall i have to pay the due IT with interest or without interest . Kindly clarify

    • Basavaraj Tonagatti

      July 25, 2014 at 3:49 PM

      Asha-Please elaborate “certain amount of IT is not paid . Shall i have to pay the due IT with interest or without interest “.

      • Asha

        July 25, 2014 at 4:06 PM

        While I am preparing to file IT return for the AY 2014-15, I found that I am required to pay Rs 41342 as balance income tax before filing the return. I have paid Rs 247210 as IT against the due tax 288552. As a senior citizen , I am exempted to pay advance tax . Therefore am I required to pay interest also. If yes, how much before 31st July 2014.

        • Basavaraj Tonagatti

          July 25, 2014 at 7:53 PM

          Asha-If it is for current AY then no need to pay interest.

      • Asha

        July 25, 2014 at 4:07 PM

        I earn out of salary and bank interest. While I am preparing to file IT return for the AY 2014-15, I found that I am required to pay Rs 41342 as balance income tax before filing the return. I have paid Rs 247210 as IT against the due tax 288552. As a senior citizen , I am exempted to pay advance tax . Therefore am I required to pay interest also. If yes, how much before 31st July 2014.

  205. RSharma

    July 25, 2014 at 10:45 AM

    Sir,

    I have 2 form 16 from my employers as I have joined another company during the financial year. I have calculated my Tax and now I have to pay additional tax.

    1. Which challan no to be used
    2. Category of Tax
    3. Type of Payment

    Regards

    • Basavaraj Tonagatti

      July 25, 2014 at 12:02 PM

      Rsharma-No need to choose to enter two Form 16, instead if you go to Tax Details tab then you will find the same details over there.

      • RSharma

        July 25, 2014 at 12:46 PM

        Sir , Unable to find in Tax details tab. I have to pay additional tax

        1. Which challan no to be used
        2. Category of Tax
        3. Type of Payment

        • Basavaraj Tonagatti

          July 25, 2014 at 1:21 PM

          RSharma-It is next to “Income Details”. If you are unable to find that then better to take help of any tax expert of your area.

  206. harish bawa

    July 24, 2014 at 5:55 PM

    sir i am a salaried person and have taken home loan. which ITR form should (AY 2014-15) use and where to mention the house loan interest or should i deduct the amount of interest from gross. thanks.

    • Basavaraj Tonagatti

      July 24, 2014 at 7:30 PM

      Harish-Please use ITR 1. For filing details either contact TRPs or your CA.

  207. Rajesh D

    July 24, 2014 at 3:35 PM

    Sir,

    I am a salaried person and I have house in another city. I have got rebate on intererst on housing loan and HRA.

    Which ITR form I should use to file return for AY14-15. Will ITR form change if I want to include rent from my house as income

    Regards
    Rajesh

    • Basavaraj Tonagatti

      July 24, 2014 at 3:46 PM

      Rajesh-Use ITR 1.

      • RajeshD

        July 24, 2014 at 5:23 PM

        Sir What if I want to include rent from my house

        • Basavaraj Tonagatti

          July 24, 2014 at 7:21 PM

          Rajesh-It is already mentioned above that ITR 1 will be applicable to those who are salaried and who have income from ONE house property. So you can use the same.

  208. Ganesh

    July 24, 2014 at 10:56 AM

    I have 2 houses (both are joint ownership with my wife who is not working). For the second home I would like to claim interest on home loan which is more than 1.5L. Both houses are not let out. Can I file using ITR1 by selecting the property as letout and claim the interest which is more than 1.5L (as I’m not receiving any income from the first property)? or should I file using ITR2?

    • Basavaraj Tonagatti

      July 24, 2014 at 11:10 AM

      Ganesh-If one is let out then you can’t use ITR 1, as it limits to ONE property. Hence use ITR2.

  209. Sagar

    July 23, 2014 at 11:26 PM

    I am having two residential property one is where i reside (in city) and other one is my second-home at native. i am salaried person and having no any other income.

    which ITR form i need to use for filling IT return?

    is it necessary to show rent income ? though i am not receiving any rent from my second-home?

    please help

    • Basavaraj Tonagatti

      July 24, 2014 at 10:27 AM

      Sagar-If your income is only from salary then you can use ITR 1 SAHAJ.

  210. Pratham

    July 22, 2014 at 1:18 PM

    Sir, i have brought forward loss since last 3 years. And this year i have only dividend and interest income then for carry forward that loss in next year which itr form should i have to file this year???

    • Basavaraj Tonagatti

      July 22, 2014 at 1:43 PM

      Pratham-Please understand that ITR forms are decided based on source of income but not on carry forward of loss.

  211. Snigdh

    July 21, 2014 at 9:11 PM

    I am a salaried employee with PSU with no other source of income. However salary components like HRA, conveyance allowance etc. amount in excess of Rs. 5000 annually. Whether to use ITR-1 or ITR-2 ?

    Further I have a PPF account, whether interest accrued therein requires me to file a return using ITR-2 ?

    • Basavaraj Tonagatti

      July 22, 2014 at 10:08 AM

      Snigdh-You can use ITR-1. No need to mentioned accrued interest of PPF as it is tax free. Your HRA and allowance will not matter which IT form to you. Instead the source of income matters.

  212. Sridhar B

    July 21, 2014 at 6:03 PM

    Dear Basu,

    I have home loan, for which I am re-paying the amount. In my form-16, it is mentioned the loan interest amount as loss from house property and that amount is deducted from my gross salary. While I am filing tax returns through online, where I need to mention the same amount? Can I mention as negative amount under Income from one house property OR I can mention my total income after deducting the loan interest amount.

    Regards,
    Sridhar

    • Basavaraj Tonagatti

      July 22, 2014 at 10:12 AM

      Sridhar-Home loan interest payment will not be considered as loss. Instead you need to get deduction upto Rs.1,50,000 per year under section.24. If you still have confusion then please contact tax expert of your CA who can help you in this matter.

  213. Sguna

    July 21, 2014 at 10:25 AM

    Hi,
    Am a salaried employee of a private concern and an lic agent too.My income includes Salary & Commission. What form should i use to file my returns ITR-1 or ITR-2?
    Thanks

    • Basavaraj Tonagatti

      July 21, 2014 at 10:51 AM

      Sguna-You can use ITR-4S Sugam as your income includes both salary as well as business.

      • Sguna

        July 21, 2014 at 11:12 AM

        But my Traces show TDS deducted under 192 & 194D…and nothing related to fill in ITR-4S wherein the business details are dealt….is it still ITR-4S i should use

        • ANIL

          July 30, 2014 at 8:37 PM

          USE ITR 2. MAKE IT SIMPLE.

  214. lokesh

    July 20, 2014 at 2:20 PM

    Hi,
    I am salaried employee and i had short term loss in derivatives (FnO) from september 2013 to march 2014.
    Please advise which itr form i should use? should i use ITR2 ?
    Also please advise that the derivative loss (in stock, nifty options and commodities options) can be carry forward or not ? I had both intraday and delivery losses in options.
    Can it be set off against next year short term derivative gain.

    • Basavaraj Tonagatti

      July 21, 2014 at 9:38 AM

      Lokesh-You can use ITR 2. Regarding taxation of equity and derivative, please read my old post “All about Tax Liability on Equity Share Trading“.

      • lokesh

        July 21, 2014 at 5:19 PM

        I have loss in derivatives. (fno in nifty and commodity). I read online that it will be consider as business loss not as capital loss, so for that i have read that we should use ITR4 not ITR2.
        Please advice that ITR4 or IRT2 for business loss?

        • Basavaraj Tonagatti

          July 22, 2014 at 10:13 AM

          Lokesh-Then follow that reading.

          • lokesh

            July 22, 2014 at 1:26 PM

            Hi,

            while online e-filing, only two option are coming for me in ITR Form name:
            ITR1 and ITR4s .
            So, i think it should be ITR4s only, but i dont know how to fill NOB BP tab in that.
            What to use in “Name of business” for derivatives. Can i contact you please for filling my income tax. my no. is 8892406595

            • Basavaraj Tonagatti

              July 22, 2014 at 1:44 PM

              Lokesh-My suggestion is to contact any tax expert or CA of your area who can physically come and help you.

  215. M Aggarwal

    July 19, 2014 at 10:25 PM

    In regards of my question On contract basis in a central government hospital

    • Basavaraj Tonagatti

      July 20, 2014 at 10:04 AM

      Aggarwal-Whether you are at contract base or regular employee, your income is treated as salary as there is relation of employer and employee to this work. Use ITR1.

  216. M Aggarwal

    July 19, 2014 at 10:23 PM

    I am a doctor employed on contract basis in the year 2013 so that whole income of fy 13-14 is from this source and some interest from fixed deposit. TDS deducted by our accounts office is under 194J. Which itr form shud I use? And if itr4 then how do I show expenditure, do not hv any bills except child’s school fees receipts.

  217. Ram

    July 16, 2014 at 6:38 PM

    I am a doctor getting pension from Government. I am doing a small practice at my residence and getting income. I have income from one house property. Which form shall I use to file IT return AY 2014-15

    • Basavaraj Tonagatti

      July 16, 2014 at 6:55 PM

      Ram-ITR 4.

  218. Ravichandran

    July 16, 2014 at 5:12 PM

    Hi Basu
    I have loss in agriculture activities, means the due to drought partial income against my expenditure. I am falling under 30% tax bracket. How it shall be declare and set off for next year. Presently I am filing ITR-2- thanks

    • Basavaraj Tonagatti

      July 16, 2014 at 6:39 PM

      Ravichandran-Regarding agriculture income details please read my earlier post “Is your Agriculture Income really exempted?“

  219. suresh

    July 15, 2014 at 2:59 PM

    i have income from pension and also capital gain loss from commodity and equity transactions(short term) which ITR i should use to file my returns? Pls help.

    • Basavaraj Tonagatti

      July 15, 2014 at 3:13 PM

      Suresh-You need to use ITR 2.

  220. Girish

    July 13, 2014 at 6:57 PM

    I have taken home loan in july 2014 and emi also started fm july 2014…..
    I will get possession in sep 2015….
    pl guide on following,
    1.which itr for AY 2015-16 & AY 2016-17?
    2.how to claim tax refund for home loan repayment made fm july 14 to mar 15 in how many parts for how many years?
    3. can i claim stamp duty amount in 80c & in how many parts for how many years?
    4.what else can be claimed for tax saving of home purchase component like service tax, vat, registartion?
    5. where to mention principle, interest & stamp duty amount in online itr form?

    • Basavaraj Tonagatti

      July 13, 2014 at 8:18 PM

      Girish-Merely having home loan will not change the ITR form. But form selection depends on what type of income you have. You have plenty of doubts which I can’t answer on this platform. Please consult your tax expert.

  221. Deep

    July 11, 2014 at 3:06 PM

    Sir, I have short term capital loss carried forward from 2007-08. Can I file ITR 4S, if I don’t want to carry it forward further?
    And in case ITR4 has to be filed , can I file it under “No Books” category as per presumptive income ?

    • Basavaraj Tonagatti

      July 11, 2014 at 6:38 PM

      Deep-Please let me know the nature of capital loss.

      • Deep

        July 12, 2014 at 8:58 AM

        It was on sale of Equity stocks held for less than one year.

        • Basavaraj Tonagatti

          July 12, 2014 at 10:31 AM

          Deep-Then please read detailed post once again. You will get clarity.

      • Deep

        July 12, 2014 at 4:57 PM

        The question is whether I can do away with loss and file ITR – 4S or alternatively Can I file under No Accounts case while carrying forward the loss, assuming it be presumptive income. The answers to these Questions are not very clear from the post.

        • Basavaraj Tonagatti

          July 12, 2014 at 5:17 PM

          Deep-Better to consult your CA. Because all things can’t be clarified in detail without knowing details.

  222. PARVEEN

    July 11, 2014 at 12:37 PM

    Sir,

    I am Insurance Agent
    I earn income during the financial year 2013-14 by way commission from insurance policies.
    which ITR Form should i file for my return?

    • Basavaraj Tonagatti

      July 11, 2014 at 6:46 PM

      Praveen-Please read above post in detail and consider yourself as non salaried.

  223. Anand

    July 10, 2014 at 6:34 PM

    Hi,
    I am a salaried person with home loan EMI for the self occupied property. I don’t have income from any other sources.
    Which ITR form do I need to fill to file Income Tax Returns?
    Thanks in Advance.

    Anand

    • Basavaraj Tonagatti

      July 11, 2014 at 10:22 AM

      Anand-I hope my latest post “Income Tax Return Filing AY 2014-15-Which forms to use?” will help you in this regard.

  224. Jeeva

    July 9, 2014 at 3:50 PM

    My Doubt is an individual, Indian residence, runs a Partnership firm (2-Partners), Both are sharing fixed sum of 20000/month – as monthly income from their earnings, in which ITR form they have to file their return (They does not have any other income).
    Thanks

    • Basavaraj Tonagatti

      July 9, 2014 at 5:49 PM

      Jeevan-Whether that fixed sharing is from profit or salary?

      • Jeeva

        July 10, 2014 at 10:30 AM

        The Fixed sharing of Rs.20000/- is from their Profit earned, and the balance sum is retained for the development of the firm / business / business expenses. The Firm has a separate PAN, My doubt is as an individual which form they will have to use for filing the individual return.
        Thanks

  225. pulkit anchalia

    July 4, 2014 at 9:51 AM

    Hi,

    I am a salaried person and have always filed my return online(from cleartax.in or investmentyogi). Actually I used to put my details there and download the final xml file from these website and finally uploading into income tax website.

    but now cleartax doesn’t give xml file but only generate the ITR-1 pdf. So my question is there any other website which generates the xml file?

    • Basavaraj Tonagatti

      July 4, 2014 at 2:14 PM

      Pulkit-Really I don’t know as I file my ITR my own.

  226. dr niti

    June 29, 2014 at 11:01 PM

    Sir,
    I was running my privet ayurvedic clinic with ayurvedic product shop till september 2014. After that i appointed in government job on contract basis. Which ITR i should file. Is it any record keeping required for previous clinic cum shop. Thanks

  227. dr sachin jain

    June 29, 2014 at 10:49 PM

    Sir , i was working in privet company till december 2014.From january 2014 i joined government job ,but salary is not drawn till june2014.
    Which ITR should i file and how total income is calculated.( salary from janury to march that is not issued due to treasury problem, it may be drawn since july 2014 in accumulated salery )
    Sir i also have to carry forward loss in equity (short term ) .no trading in this financial year.

  228. Siva

    June 24, 2014 at 3:55 PM

    Hi Basu,

    I like to understand which ITR form to use whilst filing returns for Assessment Year 2014-15 (FY 2013-14).

    I have income from Salary + short-term capital gains (equity / mutual funds – profits booked within a year) + daily margin trading in equities (gains – delivery of shares is not taken).

    My wife is not employed – but, she also has the gains/losses in short-term capital gains and daily margin trading.

    Please advise – (a) if I have to file separate returns for my wife and I, or one return combined for both of us; (b) which ITR form(s) to use.

    Cheers,
    Siva

    • Basavaraj Tonagatti

      June 24, 2014 at 6:19 PM

      Siva-From your comment we can arrive that you have income from Salary+ Income from Business or Profession. So you can use ITR-4 form, same applies to your wife too. But you need to file it separately.

  229. vamshi krishna

    June 18, 2014 at 12:35 PM

    how to save itr 2014-15 forms,the save option is available or not for 2014-15 itr forms

    • Basavaraj Tonagatti

      June 18, 2014 at 1:36 PM

      Vamshi-I am unable to understand your doubt. Please elaborate more.

  230. Rajan

    June 15, 2014 at 11:19 PM

    Please confirm if my understanding is right: For a doctor running a clinic: It is mandatory for him to maintain books and also he cannot use form ITR 4S but needs to file ITR – 4

    • Basavaraj Tonagatti

      June 16, 2014 at 10:52 AM

      Rajan-Yes your understanding is correct.

  231. Saravanan

    June 7, 2014 at 10:10 AM

    Dear Basu,

    I would like to get it clarified in terms of ‘Income/Loss from house property”. What is this all about?
    I bought a flat and now paying emi for that. It s self occupied. Is there any implications for this under the above said clause?
    I decided to file the returns by my self for me and for my wife this year. So far our company has hired a third property for filing the returns for the employees.

    Regards,
    Saravanan

    • Basavaraj Tonagatti

      June 7, 2014 at 5:55 PM

      Saravannan-Income from property in the sense not your own residential property but a let out property or any earnings from property. In can your case it is not applicable.

    • Padmalochani V

      June 19, 2014 at 4:14 PM

      There are 3 sections of Income tax under which the individual is benefited in case of housing loan:
      1. Sec 80C – principal repayment up to Rs.1,00,000 (This is a part of all other investments allowed under 80C)
      2. Sec 24B – For self occupied property interest up to Rs.1,50,000 & for let out property interest without any limit.
      3. Sec 80EE – another new section (applicable for FY2013-14 only) with certain conditions to claim interest up to 1,00,000 in addition to Sec 24B

      • Basavaraj Tonagatti

        June 19, 2014 at 7:15 PM

        Hi Mam,
        Thanks for your clarification and commenting on my small initiative. Today I overwhelmed with your first comment 🙂 Thanks once again Madam.

  232. Muthu Krishnan V

    June 6, 2014 at 4:24 PM

    If a person has received money in the bank from her mother, the source of which is the insurance proceeds received out of her father’s demise, which form should be used.

    • Basavaraj Tonagatti

      June 6, 2014 at 6:25 PM

      Muthu-I hope my earlier post “Tax Benefits of Life Insurance” will give clear idea about how life insurance is taxed.

Sidebar

Newsletter Signup

Subscribe to our weekly newsletter below and never miss the latest product or an exclusive offer.

Enter your email address

Categories

  • Banking
  • Consumer Rights
  • EPF and PPF
  • Insurance Planning
  • Investment Planning
  • Mutual Fund
  • Real Estate
  • Real Life Stories
  • Retirement
  • Tax Planning
  • Uncategorized

Subscribe to our YouTube Channel

Recent Posts

  • Interesting Tax Dispute – Whether Sachin Tendulkar Actor or Cricketer?
  • List of Index Funds in India 2021
  • 7.15% Power Finance Corporation NCD Bonds 2021 – Review
  • ENEMY No.1 of your investment
  • 39 Year Multimillionaire’s Tesla stock value is Rs.83 CRORE – What we can learn?
  • Best Investment Plans for 2021 in India

Are you looking for Unbiased, Simple and Conflict-Free Financial Planning Service?

We neither SELL any product nor representative of any Insurance or Mutual Fund Companies.

We offer you an unbiased Fee-Only Financial Planning Service.

GET STARTED

    Follow along on social media

Get in touch with us here

Address: Basavaraj Tonagatti,
1446, Aastha, Sir M Vishweshwarayya Layout, 5th Block, Bangalore-560056.

Phone: (+91) 9019580450

Email: tonhokrani@gmail.com

Subscribe to our newsletter

Newsletter Signup

Subscribe to our weekly newsletter below and never miss the latest product or an exclusive offer.

Enter your email address

© Copyright 2020

Return to top