1) An individual or HUF must file the return of income electronically
for the previous year 2011-12 and subsequent previous year if his/its total income exceeds Rs. 10 lakhs.
for the previous year 2011-12 and subsequent previous year if his/its total income exceeds Rs. 10 lakhs.
2) A resident Individual or a resident HUF must file the return of income electronically for the previous year 2011-12 and subsequent previous year, if he/it has:
a) assets (including financial interest in any entity) located outside India; or
b) signing authority in any account located outside India.
a) assets (including financial interest in any entity) located outside India; or
b) signing authority in any account located outside India.
3) The prescribed ITR Form SAHAJ - ITR 1 cannot be used by a resident Individual to file his return of income, if he has:
a) assets (including financial interest in any entity) located outside India; or
b) signing authority in any account located outside India.
a) assets (including financial interest in any entity) located outside India; or
b) signing authority in any account located outside India.
4) The Form SUGAM - ITR 4S, prescribed in the case of an individual or a HUF deriving business income and such income is computed in accordance with special provisions referred to in section 44AD and section 44AE of the Act, cannot be used by a resident Individual or a resident HUF to file the return of income, if he/it has:
a) assets (including financial interest in any entity) located outside India; or
b) signing authority in any account located outside India.
a) assets (including financial interest in any entity) located outside India; or
b) signing authority in any account located outside India.
Reference:-[Notification No.14/2012 [F.No.142/31/2011-TPL]/S.O. 626(E), DATED 28-3-2012]
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