ITR filing

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 September 2010 A person is employed on a contract basis with a company and his earnings are less than Rs.100,000/- p.a. He is not getting Form No.16 as he is not an employee.

Which form should be filed, ITR 2 or ITR 4? If ITR 4 is filed, he will have to prepare Balance Sheet but, he is not doing any business. Can this income be shown in ITR 2 under Income from Other Sources? Please advise at the earliest.

Abhishek Ranjan Singh

Abhishek Ranjan Singh (Expert)
Follow

24 September 2010 ITR 4 Bcoz it is Professional income but as u say his income is not taxable it is very less so u can show it as a salary income and file ITR 1

If you like i can provide u Service for return filling.
Call me
+91 9022838615
Email me
email2ars@gmail.com

Querist : Anonymous

Querist : Anonymous (Querist)

24 September 2010 But, it is not a salary, can he still file ITR1? Actually, he is looking for a home loan and so filing the return. But, he dont want to get into Balance Sheet and other details?

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