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Opt for ITR

cksingh (Accountant) (174 Points)

18 August 2022

Dear all

I want to know that if income are to be from small business as well as sip/ mutual fund so which itr should be opt

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9 Replies

Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 19 August 2022

ITR-3 can be used

2 Like

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (166645 Points)
Replied 19 August 2022

For small businessman with any income from investment in shares/MF, ITR 4 is easier to be filed.

2 Like

CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 19 August 2022

ITR-3

2 Like

Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 20 August 2022

ITR-4 can also be used if there is no capital gain from mutual fund

1 Like

Sai Allu (754 Points)
Replied 21 August 2022

ITR-4 Form is the Income Tax Return form for the taxpayers who opt for a presumptive income scheme under Section 44AD, Section 44ADA and Section 44AE of the Income Tax Act. However, if the turnover of the business mentioned above exceeds Rs 2 crores, the taxpayer will have to file ITR-3

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CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 21 August 2022

Sai Allu, how suddenly you got that much knowledge

1 Like