ITR FORM

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Rajesh (Querist)
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04 May 2009 I have Income form salary as well as a small income from the Insurance commission Rs. 18000/- but have the expenses for same amount. I want to refund the TDS on insurance income. should I file the return through the ITR 3 or choose itr 4 ?

ITR 4 is very lengthy form.

Because I am not doing any business or profession under the proprietary Business

Please advice me

Regards

Rajesh Jaiswal

Vipul J. Bhavsar

Vipul J. Bhavsar (Expert)
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04 May 2009 I assume that the year you are willing to file Return is AY 2009-10.
When a person has income from Business or Profession, he has to file Return of Income in Form ITR - 4 until AY 2008-09.
From this year, AY 2009-10 a person has to file the Return under form ITR - 3.
You being an Insurance Advisor, you are required to file Return under ITR-3 from AY 2009-10.
There is no relief as to the length of the ITR form. Everybody has to fill the required form in prescribed format.
Please paste the following link-
http://www.incometaxindia.gov.in/download_all.asp

Arun Gupta

Arun Gupta (Expert)
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04 May 2009 VIPUL SIR ,I THINK YOU ARE WRONG ,FROM WHAT SOURCES YOU SAID THAT FROM THIS YEAR ,A BUSINESS MAN IS FILING ITR-3,THERE IS NO SUCH TYPE OF CHANGE IN THE ITR FORMS SO IN MY POINT OF VIEW ,ITR 4 IS REQUIRED IN SUCH CASE.

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Arun Gupta

Arun Gupta (Expert)
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04 May 2009 ITR-3 IS APPLIACBLE WHEN YOU ARE PARTNER ANYWHERE AND YOU HAVE NO PROPRIETORSHIP BUSINESS ,AND INSURANCE ADVISOR IS A PROPRIETOR SHIP BUSINESS ,THERE IS NO DOUBT.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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04 May 2009 Seems Mr.Arun's view is correct.

parthasarathy

parthasarathy (Expert)
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04 May 2009 i think mr.vipul has seen the "downloads" page of the dept. website. sir the coloum has been mistyped as you can download the actual forms and check on the headlines and also the instructions & notification of the dept.

the serial numbers of the itr forms remain the same for a.y.2009-10.

and regarding the actual question, mr.rajesh there is no exception for the forms to be filed. as the insurance commission is under " profits and gain of business or profession" hence you have to file itr-4. better wait a bit and file your return via e-filing, then you need not fill all the pages, as you can strike off the unwanted sheets in the index page.

Vipul J. Bhavsar

Vipul J. Bhavsar (Expert)
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05 May 2009 All Respected Experts,
I agree that the applicable FORM is ITR-4 in the aforesaid case for AY 2009-10.
Thank you Mr. Arun for correcting me.