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Need some valuable suggestions

03 August 2018

Need some suggestions

Case 1- One person working with private company and the salary is below 2.5 lakhs . But the employer has not given form 16. Then which type of ITR form is applicable?

Case-2 One person an junior advocate and practice with senior advocate running firm and his income is below 2.5 lakhs then which type of ITR Form is best?

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RAJA P M ("Do the Right Thing...!!!") (128010 Points)
Replied 03 August 2018

Case 1 - ITR 1, But, His total income is less than 2.5lakhs then no need to file ITR. May be except his Valundary filing...

Case 2 - ITR 3 or ITR 4 (presumptive). Otherwise above said BEL...

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J S BHAVSAR (CONSULTING) (1288 Points)
Replied 06 August 2018

Originally posted by : RAJA P M
	Case 1 - ITR 1, But, His total income is less than 2.5lakhs then no need to file ITR. May be except his Valundary filing...

If ITR1, where to enter the income? Income from Other Sources or Income from Salary.

Many small boutique companies in Tier 2 cities are not giving any salary slips and Form16. They do not issue "Income Certificate" also. They only get monthly credit in their bank account. No breakup of salary is available, nothing.

"Income from Salary" is for those who can prove "employee employer relationship".

So will such employees have to show their income as "Income from Other Sources"?

RAJA P M ("Do the Right Thing...!!!") (128010 Points)
Replied 06 August 2018

Originally posted by : J S BHAVSAR
	Originally posted by : RAJA P M Case 1 - ITR 1, But, His total income is less than 2.5lakhs then no need to file ITR. May be except his Valundary filing... If ITR1, where to enter the income? Income from Other Sources or Income from Salary. Many small boutique companies in Tier 2 cities are not giving any salary slips and Form16. They do not issue "Income Certificate" also. They only get monthly credit in their bank account. No breakup of salary is available, nothing. "Income from Salary" is for those who can prove "employee employer relationship". So will such employees have to show their income as "Income from Other Sources"?

The 1st case not included any some of IFOS. May be small () companies account the ~~salary~~ expenses any other heads then it will be treat as IFOS, PGBP by the ~~Employee~~ Person who is received the amount....

In case the small () write it as Salary / Wages then no more restriction employee shown the Income as Salary...

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