Filing income tax return - which form

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 December 2014 Hi,

I have one query. During the previous year if assessee is employed in a company for some period. After few months , he left his job & join the other company. However as per terms of his engagement in new company , he will be on contract for first 3 months & he has to submit bill for his professional services rendered on monthly basis , for those 3 months. Thus this will be his income from professional services. Thus details of his income in F.Y. are as follows -

From Apr to June - Income from salary ( in old company )
From Jul to Sep - Income from professional services rendered.( in new company )
From Oct to Mar - Income from salary ( as he becomes regular employee of new company after first 3 months )

Please let me know which form he should use for filing his return of income.

If he already filed his return in ITR-1 Sahaj , is there any need to revise his return.

Thanks

Manoj Sonalkar

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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06 December 2014 Income earned during July to Sep is income from business or profession. Accordingly he has to file ITR 4 since he has rendered PROFESSIONAL services.

Querist : Anonymous

Querist : Anonymous (Querist)

06 December 2014 Thanks
... & what if he already filed return using ITR 1.

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CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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07 December 2014 Where did you show the professional income in ITR 1? Under the head salary?

You should revise the return & file ITR 4.