Incometax return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 August 2015 Dear Sir
One of my client is doing HR works on contract basis. The company is deducting tax @ 1% and provided TDS certificate.
My Query is in Which ITR the return have to be filed. Income is less than 200000/-;
If 4S what will be the nature of business??

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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13 August 2015 File itr 4 in this case

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
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14 August 2015 File ITR-2 as show this as Other source income.

Querist : Anonymous

Querist : Anonymous (Querist)

17 August 2015 If return filed under ITR2 is there any difficulty in getting Refund..
He is having only such income.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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23 August 2015 Income from HR Consultancy is taxable under the head Profit and Gains of business or profession and therefore ITR4 needs to be filed. Showing it as Income from Other sources will not be correct, technically.

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
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25 August 2015 Agreed but for ITR-4 you need to give all the details, looking at the figures income 2 Lacs, You can file ITR-2.

Moreover, The work you mentioned as contract basis which is not your permananet business, hence I asked you to file ITR-2.

Pls note, whichever ITR you will file, getting refund i not a problem.

Regards
CA Ayush Agrawal

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