filed itr 4 instead of itr 3

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Actually yesterday I filed ITR 4 of wholesale and retail business in hardware and sanitary..

Then after searching more about itr I came to a conclusion that it's a proprietor ship so it should be filed under itr 3...

can anyone give solution for it?
or itr 4 will be ok?
Do I need to revise return?
if so what will be the time limit for the same?
Replies (10)

              ITR 4 is ok...

The ITR-4 Form is applicable for individuals or HUFs who have income from proprietary business or are carrying on a profession. If the requirements of audit are applicable, the due date of filing of return is 30th September. Otherwise, usually the due date of filing of return for non-audit cases is 31st July.(extended date is 31st Aug,2018)

 

 

The ITR-3 Form is applicable for an individual or an HUF is a partner in a firm AND. where income chargeable to income-tax under the head “Profits or gains of business or profession” does not include any income except the income by way of any interest, salary, bonus, commission or remuneration, due to, or received by him from such firm.

But income was not from any presumptive business....it's a normal proprietor ship

Yes ITR 4 applicable... its correct

his income was also less than 5 lakh

The ITR-4 Form is applicable for individuals or HUFs who have income from proprietary business or are carrying on a profession. If the requirements of audit are applicable, the due date of filing of return is 30th September. Otherwise, usually the due date of filing of return for non-audit cases is 31st July.(extended date is 31st Aug,2018)

 

thanx...it was a great help...

                                      Welcome Foram

1 more question please...
in itr 4 in which column and under which section I need to mention this income?
it's a hardware shop, does it come under presumptive business?
Forms now changed itr 4 only for presumptive and itr 3 for normal business


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