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Income tax return

rajesh kapoor (lnsurance advisor) (28 Points)

14 July 2014

I am lic agent getting income from commission. also income from one home property and getting family pension wrt to wife's job along with bank interest. My query is what itr form is applicable. ITR 4 OR ITR4S.

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9 Replies

sushil kumar ( CA Final-Audit Assistant) (528 Points)
Replied 14 July 2014

Dear,

ITR 4 will be applicable in your case.

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CA Ishfaq Baba (Practising) (60 Points)
Replied 14 July 2014

ITR 4S is only applicable to an indivisual or huf carrying on business n whose gross turnover is less than 1 crore with net profit of 8% or more. In every other case ITR 4 is applicable. So in ur case ITR 4 need to be submitted.

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Tribhuvan Aditya Singh (Student as well as Self-employed) (3710 Points)
Replied 14 July 2014

you need to file itr-4

rajesh kapoor (lnsurance advisor) (28 Points)
Replied 15 July 2014

Dear all. Thanks for your valuable reply. But when I login to IT website from my user id and password/ pan number its giving options ITR 1 OR ITR 4S to choose. I have filled ITR4 but not uploaded yet .Please advise.

CA Shivshankar Gupta (B.Com CS FCA LLB DISA ) (325 Points)
Replied 15 July 2014

ITR has been not filled properly...choose correct head of income....commission income shld be Income from business or profession and not salary or other sources...you may correct the same or else take some guidance from professional in your area...

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suleman mehraz (Ca) (38 Points)
Replied 15 July 2014

It may be because of the reason that department may have not finalized the schemas and hence not providing option to upload itr 4 as of nw but as an when they are ready with the schema u will b able to select itr 4 from the drop down