ITR Form Related Query
This query is : Resolved
25 July 2024
You have filed your income-tax return in form ITR-4. As per TDS details in your Form 26AS, taxes have been deducted under sections 194IA/194IC/194S/194B/194BB/194BA, etc. of the Income-tax Act, 1961. These sections are reflected as (4IA/4IC/94S/94B/4BB/4BA) in Form 26AS. These sections imply heads of income for which form no. ITR-4 is not the appropriate form. Thus, the required schedules for reporting incomes pertaining to said TDS sections are not present in your return of income filed in form no. ITR-4.
My TDS is deducted under section 194I(a) and 194C .kindly guide me which will be the appropriate ITR FORM. Earlier I Have filed ITR Form-4. Apart from that I have only saving bank interest.
My TDS is deducted under section 194I(a) and 194C .kindly guide me which will be the appropriate ITR FORM. Earlier I Have filed ITR Form-4. Apart from that I have only saving bank interest.
25 July 2024
Have you declared rental income in ITR4?
26 July 2024
Yes Sir I Have disclosed rental income under 44AD. Actually I have MY TDS under section 194C, 194I(a) and 194 JB. I have shown TDS under section 94C and 94 JB under 44ADA and 94I(a) under 44AD. Sir kindly guide me regarding the notice and the appropriate form apart from this i have only saving bank interest income.
26 July 2024
You have to declare rental income under head IF HP, and not u/s. 44AD IT act; to remove the defect.
26 July 2024
But sir this rental income is not from house property it is earned by letting out plant and machinery .Under house property rental income is to be earned by letting out the house.
26 July 2024
This is digital India.
Actually, The Schedule IF HP is meant for Income From Rental Income, as any rental income on which TDS is deducted u/s. 194I(a), can be reported here only.
If this income is declared anywhere else, the defect will not be removed!!!
Actually, The Schedule IF HP is meant for Income From Rental Income, as any rental income on which TDS is deducted u/s. 194I(a), can be reported here only.
If this income is declared anywhere else, the defect will not be removed!!!
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