ITR Form Related Query

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This discussion clarifies which Income Tax Return (ITR) form to use when your TDS is deducted under specific sections like 194C, 194I(a), or 194JB. It highlights that ITR-4 may not be suitable for these deductions, especially when rental income from letting out plant and machinery is involved. The correct reporting of such income under the 'Income From House Property' schedule is crucial to avoid defects in your tax return.

vishnu Rajput

vishnu Rajput (Querist)

25 July 2024 You have filed your income-tax return in form ITR-4. As per TDS details in your Form 26AS, taxes have been deducted under sections 194IA/194IC/194S/194B/194BB/194BA, etc. of the Income-tax Act, 1961. These sections are reflected as (4IA/4IC/94S/94B/4BB/4BA) in Form 26AS. These sections imply heads of income for which form no. ITR-4 is not the appropriate form. Thus, the required schedules for reporting incomes pertaining to said TDS sections are not present in your return of income filed in form no. ITR-4.

My TDS is deducted under section 194I(a) and 194C .kindly guide me which will be the appropriate ITR FORM. Earlier I Have filed ITR Form-4. Apart from that I have only saving bank interest.

Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

25 July 2024 Have you declared rental income in ITR4?

vishnu Rajput

vishnu Rajput (Querist)

26 July 2024 Yes Sir I Have disclosed rental income under 44AD. Actually I have MY TDS under section 194C, 194I(a) and 194 JB. I have shown TDS under section 94C and 94 JB under 44ADA and 94I(a) under 44AD. Sir kindly guide me regarding the notice and the appropriate form apart from this i have only saving bank interest income.

Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

26 July 2024 You have to declare rental income under head IF HP, and not u/s. 44AD IT act; to remove the defect.

vishnu Rajput

vishnu Rajput (Querist)

26 July 2024 But sir this rental income is not from house property it is earned by letting out plant and machinery .Under house property rental income is to be earned by letting out the house.

Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

26 July 2024 This is digital India.
Actually, The Schedule IF HP is meant for Income From Rental Income, as any rental income on which TDS is deducted u/s. 194I(a), can be reported here only.
If this income is declared anywhere else, the defect will not be removed!!!

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