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Which ITR I used?

chetan (accountant) (321 Points)

10 June 2011

If a person having salary income and also insurance commission which ITR has to be filled?

1) need to prepare P & L accounts & B/S

insurance commission - 1.6LACS

Salary- 2.78 lacs.

Pls be advice.

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11 Replies

chetan (accountant) (321 Points)
Replied 10 June 2011

Pls reply

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u need to file ITR 4

CA ADITYA SHARMA (CA IN PRACTICE ) (16719 Points)
Replied 10 June 2011

ITR 4

M. N. JHA (CA) (8316 Points)
Replied 11 June 2011

Yes ITR-4. . . . . . . . . . .

Dnyanesh (Accountant) (25 Points)
Replied 28 June 2011

i have income from partnership firm for six months and now from the proprietory concern for next six months which ITR should i use

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siri (CFO) (174 Points)
Replied 28 June 2011

@ dnyanesh:- u should use ITR-4 in which u should mention the income from partnership firm in the relevant colums, & also specify the details of firm like name of the firm , pan no. , share of profit, profit sharing ration & capital bal. in the relevant schedule in the ITR-4.

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Vikas (CA) (1135 Points)
Replied 28 June 2011

Dnyanesh : you should also use ITR 4 because you also have income from business, if you would have got income from partnership only...

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Dnyanesh (Accountant) (25 Points)
Replied 28 June 2011

@ siri thanks a ton for the prompt reply...

@ vishwakarma i am not getting your reply clearly, ITR 4 is to be used

thanks for your valuable comments anyway.

Vikas (CA) (1135 Points)
Replied 28 June 2011

Originally posted by : Dnyanesh
	@ siri thanks a ton for the prompt reply... @ vishwakarma i am not getting your reply clearly, ITR 4 is to be used thanks for your valuable comments anyway.

Sorry friend,

I messed a bit.

I meant to say that ITR 3 is applicable when you have the income from partnership firm only but since you are also having the income from business then the ITR 4 has to be used.

Thanks.

Bye.