Filing income tax return - which form

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 December 2014 Hi,

I have one query. During the previous year if assessee is employed in a company for some period. After few months , he left his job & join the other company. However as per terms of his engagement in new company , he will be on contract for first 3 months & he has to submit bill for his professional services rendered on monthly basis , for those 3 months. Thus this will be his income from professional services. Thus details of his income in F.Y. are as follows -

From Apr to June - Income from salary ( in old company )
From Jul to Sep - Income from professional services rendered.( in new company )
From Oct to Mar - Income from salary ( as he becomes regular employee of new company after first 3 months )

Please let me know which form he should use for filing his return of income.

If he already filed his return in ITR-1 Sahaj , is there any need to revise his return.

Thanks

Manoj Sonalkar

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)

06 December 2014 Income earned during July to Sep is income from business or profession. Accordingly he has to file ITR 4 since he has rendered PROFESSIONAL services.

Querist : Anonymous

Querist : Anonymous (Querist)

06 December 2014 Thanks
... & what if he already filed return using ITR 1.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)

07 December 2014 Where did you show the professional income in ITR 1? Under the head salary?

You should revise the return & file ITR 4.

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