Which ITR should be filed, if somebody having salary & also professional fee?
3 Replies
Varun Malhotra
(social)
(342 Points)
Replied 24 June 2019
ITR 4 if professional fees declared u/s. 44ADA.
Otherwise ITR 3.
debora M
(BUSINESS DEVELOPMENT MANAGER)
(1697 Points)
Replied 24 June 2019
ITR - 3
The Current ITR3 Form is to be used by an individual or a Hindu Undivided Family who have income from proprietary business or are carrying on profession. The persons having income from following sources are eligible to file ITR 3 :
- Carrying on a business or profession
- If you are an Individual Director in a company
- If you have had investments in unlisted equity shares at any time during the financial year
- Return may include income from House property, Salary/Pension and Income from other sources
- Income of a person as a partner in the firm
ITR -4
- The current ITR 4 is applicable to individuals and HUFs, Partnership firms (other than LLPs) which are residents having income from a business or profession. It also include those who have opted for the presumptive income scheme as per Section 44AD, Section 44ADA and Section 44AE of the Income Tax Act. However, if the turnover of the business exceeds Rs 2 crore, the taxpayer will have to file ITR-3.
CA Navya Tejas
(Chartered Accountant)
(132 Points)
Replied 24 June 2019
Is you have opted presumptive taxation scheme ( Section 44ADA in your case) then you will have to file ITR 4. Otherwise, ITR 3.
Recent Topics
- Eway Bill query for inter state
- Taxability of income in USA of resident oci holder
- Clarity regarding Sec 16(4)
- GST ON HOTEL ROOMS details
- Relief for Delayed Filing of Tax Forms
- Expire stock
- INCOME TAX AY 25-26
- Experienced CA firm for accounting & auditing
- Regarding Perquisite Tax on ESOP - Unlisted Compan
- Casual Taxable Person under GST
Related Threads
CAclubindia
