Which itr form to use

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Venkat (Querist)
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13 February 2014 Dear experts,
I am running a marriage hall from a few months back. This business is not registered and run as individual by me.
Accounts maintained by me only but not audited. Also, no other sources of income. Total income is still less than 9 lacs and so no service tax applicable.
I am filing ITR for the 1st time, which ITR form should I use for this?
Would appreciate if you could shed some light on this.
Thank you

Nikhil Kaushik

Nikhil Kaushik (Expert)
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13 February 2014 you can use ITR4S.

Venkat

Venkat (Querist)
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14 February 2014 Dear Sir,

Thank you for the quick reply. In this case,

total turnover or gross receipt = Rs. 7 lacs
estimated income = 8% of 7 lacs = Rs. 56,000
Tax amount = 0 (since income is less than the 2 lacs band)

a) Is my understanding above correct?
b) Should i still file ITR form though tax is 0 (Nil) ?

Thanks much.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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14 February 2014 yes your computation is correct. with regards to return, it is at your option. I would suggest that you should file anyways.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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14 February 2014 better to file return even if no tax is payable.

Venkat

Venkat (Querist)
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14 February 2014 Dear both, thanks a lot for your reply!
Will file ITR4S.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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14 February 2014 you are welcome Venkat.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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14 February 2014 you are welcome friend venkat.

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