incometax return

POSTED BY dipak kalola ON May 18, 2013 6:49 pm COMMENTS (10)

hello friends,

this year i have e-filed itr-1 myself. my confusion is: in itr-v form, under verification part, it is written at the end ‘ i am making this return in my capacity as    (space)                              and i am also competent…..’ Well, am i suppoed to write anything in the space above or i have to just sign the return and post it? 

plz answer my query.



10 replies on this article “incometax return”

  1. Dear Ashish, we can not change the rules & regulations of Govt. Yes we can change Govt. 🙂



  2. Dear Ashish, as the rent agreement is in joint names. It means 12500 Rs. is the rent for each of you. In this case, you need not to deduct any TDS as it’s well below the limit of 15K mly (1.8L Rs. yly).

    For a single name rent agreement, please use challan no. 281 to deduct Tax from the rent & deposit it. Interestingly as you are applying TDS, you should avail your TAN first. without TAN, you can not file your TDS return. Also the TDS applied by you ‘ll be available in the form 26AS of your land lady with your TAN. With out TAN, it ‘ll not be possible to match her TDS & she ‘ll face problem to claim back the TDS amount.

    For past year, yes as the combined yly rent was less than 1.8L Rs. you are right for not applying TDS.



    1. Ashish Garg says:

      Dear Ashal,

      Thanks for your detailed response.

      Thankfully the rent is less than Rs.15000 for each of us, otherwise we would have to go for one more number “TAN”.

      I don’t understand why our Government is so interested in issuing so many numbers, why cant we have one number for everything… We have PAN, Aadhar, passport, driving licence and now TAN… so on… just feel harrassed


  3. Dear Bibhuti, before commenting on this PAN card of your land lord issue. I want to know regarding the TDS. As you were paying 28000 Rs. per month rent to your land lord, had you deducted any Tax as TDS from the rent?

    Please provide details.



    1. Ashish says:

      Dear Ashal,

      Sorry to jump in and hijack the question raised here, by Dear Deepak and Dear Bibhuti. I would like to understand this concept of TDS on House Rent. Similar to Bibhuti, I am also paying a rent of Rs.23000 per month to the land lord and she has shared her PAN (required to claim the HRA benefit from office).

      We have not deducted any TDS as of now (since for the FY 2012-13, rent was paid for only 4.5 month and is less than Rs.1,80,000). My understanding is that if rent paid in any FY is less than Rs.1,80,000 you need not deduct any TDS. But for this FY, the total rent would be 23000 x 12 = 2,76,000. Should we deduct the TDS or not.

      Also, since we have done the rent agreement in joint name (self and wife) so this Rs.1,80,000 limit should be available to both myself and my wife. Hence we need not deduct any TDS this year as well. Is my understanding right?

      Say, in case the agreement would have been in a single name, how to deduct the TDS and how to pay it to IT deptt? What challan? where to pay etc? Will it be similar the way we pay our self assessment tax on challan 280 and submit it in bank? Need your valuable guidance and thanks in advance.


  4. Bibhuti bhusoan Mohapatra says:

    i have claimed 28000/= pm houese rent, but our CA asked for house owner PAN card but i dont have the same, but i know if house owner dose not have a pan card then he will be provide a declaration, i have been provided the same. but our CA asked for income tax rules where is mentioned declaration form is valid for without PAN card, you are requested that please provide the supporting document if you have from IT book,

  5. bemoneyaware says:

    Good that you e-filed your return but I want to bring to your notice are given below. I hope you satisfy the two conditions for e-filing?
    Scope of ITR-1 (Sahaj) form has been reduced in AY 2013-14 significantly compared to last year,Two main points has been added under restriction
    First assessees who have negative income under head “Income from other sources” can not use this form and
    second is that if assessee’s exempted income is more than 5000 then that assessee can not use Sahaj (ITR-1)
    For example
    Salaried person getting transport allowance which is exempted 800 per month (more than 5000) can not use ITR-1
    Salaried person getting HRA exemption > 5000 are also not eligible
    Other allowances which are exempted also not eligible
    if you have received maturity amount of insurance ,exempted at the time of receipt > 5000 also not eligible

    1. dipak kalola says:

      Thanx to all.

      one more thing: what is meant by ‘Negative income?’



  6. Dear Deepak, please write in that space SELF. As you are filing your own return. Please sign at the specified place & then only post your ITR-V.



  7. Anshuk Jain says:

    Can you put a picture of the section?

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