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Please suggest correct itr form

Aswathi (NA) (58 Points)

23 August 2015

Kindly suggest the correct ITR form for an individual having salary income and nil income from partnership firm.

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Z ( ) (2965 Points)
Replied 23 August 2015

ITR-1

But This Return Form should not be used by an Individual whose Total Income for the assessment year 2015-16 includes:-

a) Income from more than one House Property; or
b) Income from winnings from Lottery or income from Race Horses; or
c) Income under the head "Capital Gains" ,e.g., short-term capital gains or long-term capital gains from sale of house, plot, shares etc.; or
d) Agricultural income in excess of ₹ 5,000; or
e) Income from Business or Profession ;or
f) Loss under the head 'Income from other sources'; or
g) Person claiming relief under section 90 and/or 91;or
h) Any resident having any asset (including financial interest in any entity) located outside India or signing authority in any account located outside India or
i) Any resident having income from any source outside India

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Udgam Koomar (Tax Technologist) (1949 Points)
Replied 23 August 2015

ITR4 coz you have been filing itr4 earlier due to income from partnership, this year just show 0

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Z ( ) (2965 Points)
Replied 23 August 2015

Considering what Mr.Uttam just said, do you mean that you still are in partnership firm? Or is it that you were in partnership firm in last A.Y and not now

If you are not in partnership firm, then you may file ITR-1

Aswathi (NA) (58 Points)
Replied 23 August 2015

Till last year there was only salary income and have been filing ITR 1. This is a new partnership firm started in March 2014 and hence there is no income from partnership. So I have the doubt whether to file ITR 1 or ITR 3?