Which itr form will applicable ??

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

19 October 2013 DEAR EXPERTS, IF ANY PERSON HAVING ONLY INTEREST INCOME AND RENTAL INCOME SO WHICH
ITR FORM WILL BE APPLICABLE FOR RETURN FILLING ??

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

19 October 2013 ITR 2 to be used.

CA Pallav Singhania

CA Pallav Singhania (Expert)
Follow

19 October 2013 Agree with Expert,

However, You can File ITR 1 also..

This Return Form is to be used by an individual whose total income for the assessment year 2013-14 includes:-

(a) Income from Salary/ Pension; or
(b) Income from One House Property (excluding cases where loss is brought forward from previous years);
or

(c) Income from Other Sources (excluding Winning from Lottery and Income from Race Horses)

Querist : Anonymous

Querist : Anonymous (Querist)

19 October 2013 and also if person having also some domestic work like tailoring work and income

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

19 October 2013 Then ITR 4 need to be filed.

Message likes : 1 times

Ganeshbabu K

Ganeshbabu K (Expert)
Follow

19 October 2013 ITR4 is Applicable to you

Querist : Anonymous

Querist : Anonymous (Querist)

19 October 2013 THANK YOU VERY MUCH DEAR GANESHBABU SIR AND SANJAY SIR...

I HAVE POSTED ANOTHER QUERY BEFORE 2-3 DAYS REGARDING TAX AUDIT RETURN FILLING BT I DIDNT GET ANY ANSWER.. :(

CAN I HAVE URS PLZ ?

Ganeshbabu K

Ganeshbabu K (Expert)
Follow

19 October 2013 You should have post quries as a member instead of posting as anonymus,,
.
.
however please provide link for your quiry to give reply for the same or post the query in this thread

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

19 October 2013 Sorry Sir... as i m new here thats y

here is the link : -

https://www.caclubindia.com/experts/tax-audit-return-filling-after-30-9-2013-1479309.asp#.UmJIhpOyHfI

Thanks

Querist : Anonymous

Querist : Anonymous (Querist)

19 October 2013 Dear Sir

If the person have tailoring work then this work in which head shud be taken ? As a business or Profession ?

Ganeshbabu K

Ganeshbabu K (Expert)
Follow

19 October 2013 Tailoring is business,,However dress designer is covered in Profession
.
.
For professions your profession should covered in Notifications given by CBDT under 44AA
.
Refer below notifications
.
.
notifications no. so-17(e) dated 12.1.77
.
and
.
No. SO 2675, dated 25-9-1992.
.
.
No. SO 385(E), dated 4-5-2001
.
.
link
.
http://law.incometaxindia.gov.in/Directtaxlaws/act2005/sec_044aa.htm

Querist : Anonymous

Querist : Anonymous (Querist)

19 October 2013 THANX FOR THE VALUABLE ANSWER ...

ACTUALLY WE DIDNT MAINTAINED ANY BOOKS DUE TO SMALL AMOUNT OF INCOME AND IF THIS WORK IS IN BUSINESS BUT THERE IS NO NEED TO DECLARE INCOME OF 8 % ?? ACTUALLY WE ARE SHOWING ONLY INCOME NET INCOME WE DNT HAVE ANY EXPENSE HEAD WE R SHOWING NET INCOME OF RS 215805 AND PAYING TAX ON THIS FOR A.Y.12-13

Ganeshbabu K

Ganeshbabu K (Expert)
Follow

19 October 2013 If it is for A.Y.2012-13 better show turnover below 60 lakhs and disclose 8% profit and pay tax on it
.

.
in case of A.Y.13-14 tunover can be made to less than 1crore

Querist : Anonymous

Querist : Anonymous (Querist)

19 October 2013 BUT SIR BUSINESS IS LIKE JUST A SIDE BUSINESS SO WE DONT WANNA GO ON THIS TURNOVER ... YOU JUST TELL ME THAT IF WE WANNA DECLARE NET INCOME OF THIS WORK 215500 AND OTHER RENTAL INCOME AROUND 50000 AND SUM INTEREST INCOME AROUND 15000 THEN HOW TO SHOW ... !!

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
Follow

03 August 2025 Got it! Here’s the simple breakdown for your case:

Income sources:

Tailoring (business income) — net income Rs. 2,15,805

Rental income — Rs. 50,000

Interest income — Rs. 15,000

Which ITR form to file?
You should file ITR-4 (Sugam) because:

You have business income from tailoring (small business).

You have income from house property (rental).

You also have income from other sources (interest).

How to report income?
In ITR-4, you can declare business income either under presumptive taxation (like 8% or 6% of turnover) or actual net income if you maintain books.

Since you don’t want to show turnover or don’t maintain books, you can still declare the net income (Rs. 2,15,805) as business income under presumptive scheme, but keep in mind the presumptive scheme assumes a certain % profit on turnover (if you have turnover data).

Declare rental income under Income from House Property.

Declare interest income under Income from Other Sources.

A few notes:
If your turnover is below ₹1 crore (FY 2013-14 onwards), you can use presumptive scheme under Section 44AD and declare 8% of turnover as income (even if actual profit is different).

Since you’re showing net income directly, it’s fine if you are ready to maintain books or explain to the department if asked.

If you want to be safe and keep things simple, just mention the net income from tailoring as business income in ITR-4.

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