Last Year, my part of income has come from Salary and part of income from Retainership. 5 months i have worked as employee & remaining 7 months as retainer in the same company. Which IT return form i need file. Thanks in advance.
suresh (Executive) (32 Points)
28 July 2010Last Year, my part of income has come from Salary and part of income from Retainership. 5 months i have worked as employee & remaining 7 months as retainer in the same company. Which IT return form i need file. Thanks in advance.
FATEMA
(CHARTERED ACCOUNTANT)
(719 Points)
Replied 28 July 2010
Dear Suresh,
Your salary income is chargeable under the head "Income from Salaries" and the income from retainership assignment is chargeable under the head "profits and gains from business or profession".Hence you will need to fill ITR 4 for filing your return of income.
Regards,
Fatema.
shyam sundar
(Article Assisstant)
(183 Points)
Replied 28 July 2010
use ITR 4, as it covers both salary and profession.