ITR1 OR ITR2A ? Which one?

Q & A Forum › Category: General › ITR1 OR ITR2A ? Which one?

mayankkthr asked 10 years ago

Hello, I have income from Salary and Mutual Fund Dividends(FY 2015-16). Dividends summing up to Rs.40000/- from Tax saving Mutual Funds. I read some where that if the dividends are greater than Rs.5000, ITR2A needs to be filed. IS this correct? OR ITR1 is ok? Please guide. Thanks.

2 Answers

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Sreekanth Staff answered 10 years ago

Hi, The opinions are divided on this issue. If Exempt income like Agriculture income or dividend income etc is more than Rs 5,000, some CAs do suggest their clients to file ITR 2A and show the exempt income in EI schedule of the ITR 2A. But filing ITR-1 and just reporting the Rs 40k as EI should not be an issue.

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Sreekanth Staff answered 10 years ago

Hi, It is mandatory to file the returns either through excel or java utility and upload the same to e-filing website. Online facility is available only for ITR 1 and ITR 4S.