ITR DETAILS

[Asked by Guest]

IF EXEMPT INCOME (EXCEPT AGRICULTURAL INCOME) FOR ASSESSMENT YEAR 2015-16 IS MORE THAN 5000 THAN WHICH ITR IS TO BE FILLED ITR-1 OR ITR-2

[Mahir S]

If the total exempt income during the year exceeded ₹ 5000, then you will have to use ITR 2 and not ITR 1.

AI Summary

Exempt income threshold determines ITR form; exceeding it requires filing ITR 2 instead of ITR 1.
If total exempt income for the year, excluding agricultural income, exceeds the prescribed threshold, the taxpayer must file ITR-2 instead of ITR-1; the rule governs choice of return form based on non agricultural exempt receipts.