The new 1 page ITR form, can the traders use it ?
Bhai, this newly introduced 1 page ITR is ITR 1 and so cannot be used by traders.
This new ITR form is meant for those, who have (any one or both)
1. Salary income
2. Income from house property,
only 1 house property, if one has more than 1 hose property then, cannot use this form.
But a problem is there and this new ITR form may not be used by most of the individual. As dept has notified that, this form to be used by only these 2 categories, (and the fools) gone silent on income from other sources, and most of individuals have this sort of income, you, me, he, everyone. Which income is this. This is bank interest income, in any form. And no clarifications has been given for this.
So untill any clarification is not given of this aspect, this new form will be of no use for most of the individuals.