Business/Professional Income of Directors of Companies


Ajay Kumar (Manager - Finance & Accounts)     21 September 2019

Ajay Kumar
Manager - Finance & Accounts 
 2 likes  108 points

| My Other Post

Dear Members,

Please help me for below query

Directors of Companies shall file ITR-2 for AY 2019-20. What if, such directors is also having income from business/profession.

Where to disclose such income in ITR. Please Advice.

Thank you!

avater

Kumar Sushank (Asst. Manager - Accounts & Taxation)     21 September 2019

Kumar Sushank
Asst. Manager - Accounts & Taxation 
 40 likes  582 points

View Profile | My Other Post

In that case Director have to file ITR-3 & he can show the income from business & profession.

avater

Ajay Kumar (Manager - Finance & Accounts)     21 September 2019

Ajay Kumar
Manager - Finance & Accounts 
 2 likes  108 points

View Profile | My Other Post

Thank you Sir. Can the director choose tax on presumptive income basis and file ITR 4

avater

Kumar Sushank (Asst. Manager - Accounts & Taxation)     21 September 2019

Kumar Sushank
Asst. Manager - Accounts & Taxation 
 40 likes  582 points

View Profile | My Other Post

No... Director can't file ITR-4 for FY 2018-19

As Income Tax Notifies about forms for FY 2018-19 Return : If you are Director of a company, then you will be required to specify your DIN (Director Identification Number) in ITR-2 or 3 whichever is applicable.

You will also be required to provide information - Name of Company, PAN, Whether shares are listed or unlisted.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  



Popular Discussion


view more »