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Discussion > Taxpayers >

Filling itr for form 16 & form 16a simultaneously

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Structural Engineer

[ Scorecard : 24]
Posted On 25 June 2012 at 12:28 Report Abuse

Earlier this Financial year, I was working on contract basis, getting salary in the form of professional fees. I have form 16A giving details of TDS for this income (from April 2011 to mid-July 2011). Later on, I switched my job and now am a salaried person. I have form 16 from the current employer (from mid-July 2011 to March 2012). So I have both, form 16 and form 16A in one financial year.

Now, my doubt is,  which ITR (1 or 4?) should I file? Or should I file both the ITRs? Can I claim return of all the tax amount deducted for first 4 months (supported by form 16A) as I am salaried person now?



YOGESH
STUDENT

[ Scorecard : 102]
Posted On 25 June 2012 at 15:23

You should file Form 1 as the commission income you can show as Income from Other Sources as it was casual income for part of the Year and the salary income you can show under Head Salaries]

 

 




MAYA. N
Accounts Officer

[ Scorecard : 68]
Posted On 25 June 2012 at 16:35

You have to file ITR -4 in which there is income from salary and income from profession.  In ITR - 1, income from business or profession would not come.  Your earlier income is income from profession.  Hence, file ITR - 4 where you can show both your income from profession and income from salary.

Work out your income tax computation and TDS amounts as per  Form 16 and Form 16 A.  And can claim refund or pay income tax accordingly.

 



Suri Kota
Senior Financial Analyst

[ Scorecard : 521]
Posted On 11 December 2012 at 23:46

Simply you have to file ITR 4. Anyways u can select the option as Regular books not maintained thereby simply input the income and expenses in P&L section at the below at around 50th Line item and cash balance if any in B/s Section.

you can not file two forms for the samle AY .


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