ITR 1 or ITR 2 which return should be filed for salaried tax payer for AY 2013-14, ITR 1 or ITR 2

Whether all salaried class taxpayers can choose ITR-1 for filing income tax returns?

After the amendment of Rule 12 of income-tax rules there is lot of confusion for salaried employees whether they file ITR 1 ot ITR 2? AS per the new rules all salaried class taxpayers can't choose ITR-1 for filing tax returns from assessment year 2013-14 onwards. They can choose ITR-1 only if they are claiming exemption under sec. 10 (E.g. HRA, Conveyance allowance etc) upto Rs 5,000 or less. So, if taxpayer is claiming any exemption under sec. 10 which exceeds Rs. 5,000, they cannot file return of income in ITR-1 (As per amended Rule 12 of income-tax rules), they have to file ITR 2

Many profession have a opinion that salaried employee having exempted allowance still can file ITR-1

Tags: ITR 1 or ITR 2

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