Easy Office
LCI Learning

44AD and Salary Return

This query is : Resolved 

24 March 2022 Mr. A is having salary income regularly till FY 2019-20.
However, during COVID he lost job and was doing some business during FY 2020-21 and having banking transactions likes loans & advances.

And after situations is favorable again he has salary income for FY 2021-22.

So, normally he files ITR-1 so which return can we file for FY 2020-21 ?
Can he file ITR - 4 considering 44AD income or ITR - 3 normal business income or ITR - 1 showing other income.

Can anyone help on this.

24 March 2022 He file ITR - 4 considering 44AD


24 March 2022 Is it allowed ITR-4 if he is not complying condition of atleast 5 years ?
As here, next year there is salary income.




24 March 2022 Yes, he can claim the income u/s 44AD. Since you will not be having business income in future years then audit scenario will not arise.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries