ITR filing

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 September 2010 A person is employed on a contract basis with a company and his earnings are less than Rs.100,000/- p.a. He is not getting Form No.16 as he is not an employee.

Which form should be filed, ITR 2 or ITR 4? If ITR 4 is filed, he will have to prepare Balance Sheet but, he is not doing any business. Can this income be shown in ITR 2 under Income from Other Sources? Please advise at the earliest.

24 September 2010 ITR 4 Bcoz it is Professional income but as u say his income is not taxable it is very less so u can show it as a salary income and file ITR 1

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 September 2010 But, it is not a salary, can he still file ITR1? Actually, he is looking for a home loan and so filing the return. But, he dont want to get into Balance Sheet and other details?




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