How to File Returns for taking exception

amit katkar 6
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Hi, I am professional and have changed my working company in April-2011. Now, I am preparing for e-filing and having below concerns. 1) Do I need to mention two Form 16 while filing returns ? (1 from Old Company and 1 from New one). please suggest the steps too. 2) I have purchased Flat and gone through the flat registration process in Dec 2011. whereas, I have got the possession in June-2012. My question is, I have spent 75000 Rs for stamp duty while registration process. so can I get exemption for this amount ? if yes, then under which section ? 3)Which ITRV form needs to fill in above situation.

Looking ahead for your reply. Thanks in Adv.

it-return stamp-duty form-16 income-tax
1 Answers
  1. In income tax return form, you need to show total income from salaries (combined from both form 16s).
  2. You should claim deduction for stamp duty paid in FY 2011-12 in same year only. This would be allowed only u/s 80C. Max total limit u/s 80C is 1 lakh.
  3. If you only have income from salaries and bank interest, you can file income tax return using ITR-1.
Pankaj Batra5212

Thanks so much Pankaj,

  1. I have gone through the Tax entry form, however, I can see many options in u/s .80C, Like PF, LIC, NSC, etc., although,there is no such category where we can capture this amount. Please advice which category need to select.

Thanks in Adv.

amit katkar•

I am not sure which form you are having. Please download ITR1 from efiling website from this page: https://incometaxindiaefiling.gov.in/portal/individual_huf.do It has 80C deduction field and it does not ask for details like PF, LIC, NSC etc.

Pankaj Batra•
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