Ajay Kumar Maggidi (Manager - Finance & Accounts) (2073 Points)
21 September 2019Dear Members,
Please help me for below query
Directors of Companies shall file ITR-2 for AY 2019-20. What if, such directors is also having income from business/profession.
Where to disclose such income in ITR. Please Advice.
Thank you!
Kumar Sushank
(General Manager - Finance)
(1040 Points)
Replied 21 September 2019
In that case Director have to file ITR-3 & he can show the income from business & profession.
Ajay Kumar Maggidi
(Manager - Finance & Accounts)
(2073 Points)
Replied 21 September 2019
Thank you Sir. Can the director choose tax on presumptive income basis and file ITR 4
Kumar Sushank
(General Manager - Finance)
(1040 Points)
Replied 21 September 2019
No... Director can't file ITR-4 for FY 2018-19
As Income Tax Notifies about forms for FY 2018-19 Return : If you are Director of a company, then you will be required to specify your DIN (Director Identification Number) in ITR-2 or 3 whichever is applicable.
You will also be required to provide information - Name of Company, PAN, Whether shares are listed or unlisted.
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