ITR
Company director or unlisted shares rule out ITR-1
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Facts
No. A person who was a director in a company at any time in the year, or held unlisted equity shares, cannot use ITR-1 and must use ITR-2 or ITR-3.
Provisions and law
- Rule 12, Income-tax Rules 1962 (now Rule 164, Income-tax Rules 2026)Prescribes the ITR forms and who must use which form.
Analysis
Even a small directorship in a family company triggers this. You need to give the company name, DIN and details of unlisted shares held. Use ITR-2 if there is no business income, or ITR-3 if there is.
Conclusion
- Note company name, PAN and your DIN.
- List unlisted shares held.
- Choose ITR-2 or ITR-3.
- Fill the director and unlisted shares sections.
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