I have filed my Income tax return for the FY 2016 - 17 and 2017 - 18 tru ITR 1 since I was employed. Later on, I came out of my employment and currently I am free lance Insurance agent and I am doing it on Commission / Incentive basis. Not a regular employee.
For the past 3 years, I did not file ITR since my income was within the threshold limit. But this year ( FY 21 22), my income has crossed basic exemption limit and also, there is TDS amount deducted from me, which I have to get refund. Since I am not a regular employee now, can I switch over from ITR 1 to ITR 4 ? Is this form acceptable for those who get Commission / Incentive income ?
25 June 2022
ITR 1 is only applicable for salaried taxpayers along with other sources. ITR 4 is applicable in case you will report the income under the presumptive scheme. Commission income cannot be reported under the presumptive scheme. So you will be required to file ITR 3.
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