I am a salaried individual.
In the current year, I have received royalty of Rs. 50000 from a book publisher who has deducted TDS on the same.
Which ITR form should I use for filing my returns.
Regards,
5 Replies
Josh
(Manager)
(124 Points)
Replied 28 August 2019
What about itr 4 as I do not maintain books of accounts and my primary income is through salary
Kapadia Pravin
(17259 Points)
Replied 28 August 2019
Under 80QQB maximum deduction is 3 lakhs. Su you get full deduction on Royalty income under ITR 3.
I think Royalty income do not qualify under 44AD or 44ADA that is ITR4 is not applicable.
I think Royalty income do not qualify under 44AD or 44ADA that is ITR4 is not applicable.
Suresh Thiyagarajan
(Student)
(3986 Points)
Replied 28 August 2019
1. Royalty income will be shown under IOS and deductions u/s 80QQB to the extent of Rs. 3 lakhs can be set it off against such income.
2. File ITR-3 it would be easy and simple.
Please correct me if the above solution has an alternative view.
Recent Topics
- Avoiding tax audit in case of intraday equity loss
- Form 3CEAB
- Form 3CEAA and Form 3CEAB
- DIR 3 Web KYC
- Can i declare LTCG income as business income if I
- Stock entry in new software
- I have an EMI collection shop, what is its SAC cod
- Making payment once in quarter possible under QRMP
- Master File Documentation related
- Applicability of 44AD needs clarification
Related Threads
CAclubindia
