Dr. Jones (Director) (253 Points)
10 June 2010Hi,
A person is earning his regular income as a bank employee. He has Form 16 for this.
He also writes blogs on the internet and earns income through it.
Which ITR form should he use?
In my opinion, such income will come under Income from Profession / Business and so ITR4 should be used for the same.
Am I right?
Thanks!
purvi
(some)
(240 Points)
Replied 10 June 2010
true. as per the definition of Business and profession...its should be any adventure conducted...
Kalpesh Chauhan,
(Tax Assistant (Accounting Technician CA FINAL CS PROF. PROG. B.Com))
(8311 Points)
Replied 10 June 2010
I think it should be under the head "income from other sources" as because his regular work is his employment in bank.
CA. Dashrath Maheshwari
(TaXpert)
(15103 Points)
Replied 11 June 2010
| Originally posted by : Dr. Jones | ||
 |
Hi, A person is earning his regular income as a bank employee. He has Form 16 for this. He also writes blogs on the internet and earns income through it. Which ITR form should he use? In my opinion, such income will come under Income from Profession / Business and so ITR4 should be used for the same. Am I right? Thanks! |
 |
You are right in this issue...
CA.TAPAS DALAR
(CHARTERED ACCOUNTANT)
(130 Points)
Replied 11 June 2010
Hi,
I think it should come under the head "income from other sources" as he is not actively involved in the Business or profession
purvi
(some)
(240 Points)
Replied 13 June 2010
Kumar
(Article)
(922 Points)
Replied 29 June 2010
Definition of PGBP says any adventure ttarget='_blank' rel='nofollow' hrefore it is not necessary to have it regularise...any single adventure / transaction will also be included under pgbp hence ITR 4 should be used.
CAclubindia
