Form for Filing of IT Return
This query is : Resolved
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18 May 2021
Respected Experts
A firm has opted for Presumptive Taxation under section 44 AD in FY 2018-19 and has filed ITR -4. Now in FY 2019-20 It has no Receipts in Business. Only has Interest Income of Rs 1,50,000 on A non Business loan given for COVID help to a society.
1. Which ITR Form to be filed in this case. Can ITR 5 be Filed in this case
2. Is a Audit Report required in this case
Please Provide Guidance
Thanks in Advance.
A firm has opted for Presumptive Taxation under section 44 AD in FY 2018-19 and has filed ITR -4. Now in FY 2019-20 It has no Receipts in Business. Only has Interest Income of Rs 1,50,000 on A non Business loan given for COVID help to a society.
1. Which ITR Form to be filed in this case. Can ITR 5 be Filed in this case
2. Is a Audit Report required in this case
Please Provide Guidance
Thanks in Advance.
CA R SEETHARAMAN
(Expert)
19 May 2021
1 File ITR 5.
2 Tax audit not applicable as there's no business income.
2 Tax audit not applicable as there's no business income.
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