Friday, February 29, 2008

Forms to be used for filing return

* The forms Saral, Naya Saral, 2D, 2E are now outdated and can not be used to file returns.
* Salaried employees should use either ITR1 or ITR2 to file returns.
* Form ITR1 is applicable for individuals having Income from Salary, Pension, and/or interest.
* Form ITR2 is applicable for all other individuals not having income form business and profession. I.e., if you have income/loss from house property, capital gains and/or other sources, you should use ITR2.
* The new ITR forms are annexure-less, i.e., you do not need to attach any documentary proof such as Form 16, investment proof, etc.

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