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Is itr 4s filing ok for a legal professional?

Kumar (Others) (33 Points)

31 August 2015

Hello Experts,

My wife is a practising advocate. Apart from her legal profession, she earned something around Rs. 60,000/- from guest lecturership as well. From her guest lecturer salary, TDS of around Rs. 6000/- was deducted. She has also some income from other sources - FD interest, S/B interest, MIS interest. Her total income is not taxable and her income together from guest lecturer remuneration and other sources is more than her professional income. What form she can use to file her tax return to get the TDS refunded? Can she file ITR 4S? Also I would like to know can she file her return after 31st August 2015 and before 31st March, 2016 since her income is not taxable OR she must file her return by 31st August, 2015 since she has Refund? Please let me know ASAP. It will be of great help.

Regards,

Kumar

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2 Replies

CMA Poornima Madhava (CMA) (13097 Points)
Replied 31 August 2015

ITR 4S cannot be used in case of legal profession. You need to file return using ITR4.
If the gross receipts exceeds Rs.25 lacs during last FY, then tax audit is applicable in which case due date for filing return is 30th Sep, else due date is 31st August this year.
You can also file the return within 31st March 2016, in which case you need to pay interest till then (if there is any tax liability) but if there is any loss during the last FY, such loss cannot be carried forward. Further, if the return is not filed within the due date, such returns cannot be revised. So in the best interest, it is better to file the return within the due date.