Use ITR 2 if you hold shares of unlisted firms

Published by taxread01 on

An individual having income from salary, one house property and income from other sources and whose total income chargeable to tax is upto Rs 50 lakh is required to file Sahaj ITR-1. However, recently CBDT has issued income-tax return (ITR) forms for the income earned during the financial year 2018-19. As per the latest forms, any person who made investment in any unlisted equity shares or is a director in any company shall not be eligible to file the Sahaj ITR-1. Hence, you will be required to file ITR-2 for the assessment year 2019-20.


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