These instructions are guidelines for filling the particulars in this Return Form. In case of any doubt, please refer to relevant provisions of the Income-tax Act, 1961 and the Income-tax Rules, 1962.
1. Assessment Year for which this Return Form is applicable
This Return Form is applicable for assessment year 2011-2012 only, i.e., it relates to income earned in Financial Year 2010-11.
2. Who can use this Return Form
This Return Form is to be used by an individual or a Hindu Undivided Family whose total income for the assessment year 2011-12 includes:-
(a) Income from Salary / Pension; or
(b) Income from House Property; or
(c) Income from Capital Gains; or
(c) Income from Other Sources (including Winning from Lottery and Income from Race Horses)..
Further, in a case where the income of another person like spouse, minor child, etc. is to be clubbed with the income of the assessee, this Return Form can be used where such income falls in any of the above categories.
3. Who cannot use this Return Form
This Return Form should not be used by an individual whose total income for the assessment year 2011-12 includes Income from Business or Profession.
4. Annexure-less Return Form
(i) No document (including TDS certificate) should be attached to this Return Form. All such documents enclosed with this Return Form will be detached and returned to the person filing the return.
(ii) Tax-payers are advised to match the taxes deducted/collected/paid by or on behalf of them with their Tax Credit
Statement (Form 26AS). (Please refer to www.incometaxindia.gov.in)
5. Manner of filing this Return Form
- This Return Form can be filed with the Income Tax Department in any of the following ways, –
- by furnishing the return in a paper form;
- by furnishing the return electronically under digital signature
- by transmitting the data in the return electronically and thereafter submitting the verification of the return inReturn Form ITR-V
- by furnishing a Bar-coded return.
- Where the Return Form is furnished in the manner mentioned at 5(iii), the assessee should print out two copies of Form ITR-V. One copy of ITR-V, duly signed by the assessee, has to be sent by ordinary post to Post Bag No.1, Electronic City Office, Bangaluru–560100 (Karnataka). The other copy may be retained by the assessee for his record.
6. Filling out the acknowledgement
Only one copy of this Return Form is required to be filed. Where the Return Form is furnished in the manner mentioned at 5(i) or at 5(iv), the acknowledgement slip attached with this Return Form should be duly filled.
7. Codes for filling this Return Form
Under the heading ‘Filing Status’ in the Return Form details have to be filled regarding section under which the return is being filed by ticking in the relevant box provided therein.
8. Obligation to file return
Every individual whose total income before allowing deductions under Chapter VI-A of the Income-tax Act, exceeds the maximum amount which is not chargeable to income tax is obligated to furnish his return of income. The deductions under Chapter VI-A are mentioned in item 5 (“Income and Deductions”) of this Return Form. The maximum amount not chargeable to income tax in case of different categories of individuals is as follows:-
