Quite from ITR-4 to ITR-1

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This query is : Resolved

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This discussion addresses whether an individual can switch from filing Income Tax Return (ITR) form ITR-4 to ITR-1. The user previously filed ITR-1 with salary and other income, then switched to ITR-4 for business income. Now, with no business income, they wish to revert to ITR-1 and are concerned about future issues with the IT department. The advice given is that if there's no income under the Profit and Gains from Business or Profession (PGBP) head and business activity has ceased permanently, then ITR-4 is no longer required.

Nisha Kathuria

Nisha Kathuria (Querist)
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01 May 2023 Sir,

Can We quite ITR-4 to ITR-1 because no business income. income only from Salary. in FY 2020-21 Filed ITR-1 income from Salary+Other in interest from FDR+ tuition fees In FY 2021-22 Filed ITR-4 income from Boutique + Other in interest from FDR+ tuition fees So please guide to us Can we face any problem in future from IT department.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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01 May 2023 If you do not have any income from head PGBP and also if you have closed the business activity permanently; you can stop filling ITR 4. In case of any query you can reply about the closure of business activity.

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Nisha Kathuria

Nisha Kathuria (Querist)
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01 May 2023 Thank you Very much Sir,

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Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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01 May 2023 You are welcome.

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