ITR 2 or 4

This query is : Resolved

Jitendra Sevak (Querist)
Follow

27 October 2008 My One Party received Commission Rs. 1,09,000/- TDS deducted Rs. 2,240/-
Other Miscellaneous income Rs. 29,000/-
Short Term Capital Gain Rs. 12,600/-
please tell me ITR Form submission to Income Tax Office In ITR 2 or ITR 4
and Balance Sheet and Profit & Loss Account Preparation necessary or not
Please tell me

Reetika Goel

Reetika Goel (Expert)
Follow

27 October 2008 Hello Mr. Jitendra,

If the assessee(Individual or HUF) has income under any head EXCEPT under "Profits/gains from Business/Profession", then either ITR 1 or 2 is filed.

However, if the assessee has income under Salary head and other sources only as Bank Interest, in that case ITR 1 is to filed otherwise ITR 2 is filed.

ITR 4 is filed only when there is loss/income under "PGBP" head.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

27 October 2008 File return in ITR-2. No need to prepare P&L and B/S.

DINESH KUMAR

DINESH KUMAR (Expert)
Follow

28 October 2008 In your case assessee is earned commission i.e. business income should file ITR-4 .

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

manojkumarkk

Aakash Kumar

ANUPAMA L KANT

Sharang Sanjay Mangalekar

RAGHUNATH KASIBHOTLA

Subscribe Now

ITR 2 or 4

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA