12 October 2012
Dear sir, what would be the effect if i filled ITR-1 instead of ITR-4. situation -1 if my return is a Nil return situation -2 if it is a tax payable return
i have included my business income as salary or as per any other income
12 October 2012
ITR-1 is applicable only to assessees whose income includes Salary/pension and income from other sources only.
Whereas ITR-4 applicable to assessees having all types of income from salary, house property, income from other sources, capital gain and income from Business or profession.
The effect of filing ITR-1 in place of ITR-4 is nothing but invalid return.
CAclubindia
