Which ITR I used to for u/s. 194nf

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If you've had Tax Deducted at Source (TDS) under Section 194N, the Income Tax Return (ITR) you need to file depends on the nature of your income. Generally, if it's business income, you'll use ITR-4. If ITR-4 isn't applicable but you still have business income, opt for ITR-3. You can claim credit for the TDS deducted, even if you have no other income, and any excess can be refunded.

somaj sagolsem singh

somaj sagolsem singh (Querist)

09 June 2022 In which itr i have to file if i had tds under section 194nf ?

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CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

09 June 2022 Depends on nature of income, generally it is in nature of business use ITR-4

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Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

09 June 2022 In addition to above, in case there is business income, and in case ITR 4 is not applicable, then file ITR 3.
Further, the person can claim the credit of the TDS under section 194N in his/its return of income. The credit will be allowed even if the person has no income under any heads of income. Further, the credit of such TDS can be adjusted with the tax liability of the person. Any remaining or excess credit of TDS will be refunded to such person.

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