Income tax return


This query is : Open 

Quick Summary
This discussion clarifies the process of filing Income Tax Returns (ITR), specifically addressing a user's query about switching from ITR 3 to ITR 4 for the financial year 2019-20. The advice given is that filing ITR 4 is permissible and should not result in a notice from the Income Tax Department. Furthermore, it's confirmed that using ITR 4 will not cause problems when applying for a bank loan, even if profits exceed 8%.

(Querist)
27 November 2020 i am filled ITR F Y 2017-18 and 2018-19 form ITR 3 but i want now i fill ITR form 4 any problem if i am filled ITR form 4 FY 2019-20 . if i fill ITR 4 now income tax department send me notice ? please help me about my above problem.

27 November 2020 No notice will be sent file ITR 4.

vikas miskin (Querist)
27 November 2020 i want know sir what is difference if i fill ITR 4 any problem if i am applying Bank Loan .?

27 November 2020 No problem you can declare more than 8% profit and file ITR 4.

vikas miskin (Querist)
27 November 2020 ok thanks sir now i am file itr4


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