24 July 2008
I wnat to know the following query urgently.If a person had professional charges from 1/04/07 to 31/12/07 (Form 16A) and salary 01/01/08 to 31/03/08 (Form 16) which ITR is needed for filling this criteria.
I Think the ITR must be 4, But the problem is ITR 4 shows income from business or profession ie net profit as per profit and loss account. In this case, it is not an income from business ie not net profit. Its actually salary but given in the name of professional charges.(01/04/07 to 31/12/08 - he is working as contract basis)
02 April 2012
Income from April to December shall be taxable under the head Income from Business and from Jan to March shall be taxable under the head salary.
CAclubindia
