Which form to choose to file income tax

I quit my job in 2009 and since have no earnings. But from the job of three years from 2006-2009 I've received a PF withdrawal of Rs. 1.5 lacs in 2010.

So for AY 11-12 I've only income to show is the PF withdrawal one. So I want to know if I need to file income tax and which for to use.

asked Jul 29 '11 at 16:38 by rag_gupta 1122


Whole EPF withdrawal is not taxable, but its subject to some rules. Please read How to calculate tax on EPF withdrawal here.

Even after these computations, I believe as you only have 1.5 lacs as income in AY 11-12, you need not to pay any income tax as this falls below taxable limits. And for the same reason, income tax return filing is not mandatory for you.

But if you decide to file, you can file with ITR1 form.

answered Jul 29 '11 at 19:45 by pankaj 5.2k320

link
But ITR-1 is only for salaried people. Isn't it? Does EPF withdrawal come under salary income?
(Jul 29 '11 at 21:29) rag_gupta
EPF withdrawal comes under interest income or income from other sources and ITR1 can be filed for this.
(Jul 29 '11 at 22:42) pankaj

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Asked: Jul 29 '11 at 16:38

Seen: 1,508 times

Last updated: Jul 29 '11 at 22:42