27 October 2008
My One Party received Commission Rs. 1,09,000/- TDS deducted Rs. 2,240/- Other Miscellaneous income Rs. 29,000/- Short Term Capital Gain Rs. 12,600/- please tell me ITR Form submission to Income Tax Office In ITR 2 or ITR 4 and Balance Sheet and Profit & Loss Account Preparation necessary or not Please tell me
If the assessee(Individual or HUF) has income under any head EXCEPT under "Profits/gains from Business/Profession", then either ITR 1 or 2 is filed.
However, if the assessee has income under Salary head and other sources only as Bank Interest, in that case ITR 1 is to filed otherwise ITR 2 is filed.
ITR 4 is filed only when there is loss/income under "PGBP" head.
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