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Sanjeev

Sanjeev Govila  |458 Answers  |Ask -

Financial Planner - Answered on Jul 23, 2023

Colonel Sanjeev Govila (retd) is the founder of Hum Fauji Initiatives, a financial planning company dedicated to the armed forces personnel and their families.
He has over 12 years of experience in financial planning and is a SEBI certified registered investment advisor; he is also accredited with AMFI and IRDA.... more
Madhu Question by Madhu on Jul 20, 2023Hindi
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Sir I am receiving salary income of Rs 9 Lakhs per annum and also I have received an amount of Rs 20000 on account of car rental how to show income in ITR and which ITR

Ans: The ITR-2 form need to be filled in your case. Also, you can claim deductions for your salary and rental income as well.

You need to follow the below mentioned steps:-
• Under the "Income from Salary" Head, you will need to enter your salary income.
• Under the "Income from Other Sources" Head, you will need to enter your car rental income.
• Also, you can claim the standard deduction of Rs 50,000 for your salary income.
• You need to calculate the taxation on basis of the above details and pay tax accordingly.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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