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%.
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.