Can any one suggest the treatment of the following? " A man is having non taxable income" . He is filling itr 2 for head of salary. Now he is having business of his own & having trade licence too. Should he change the form to ITR-4? Does it has a impact on his total income?
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Filling of return
Replies (2)
"Should he change the form to ITR-4?"
Yes, ITR 3 or ITR 4, as applicable.
Total income under different heads are to be aggregated for final tax assessment.....
thanks sir, Will he has to file as taxable income? He is not having details about expenditure income capital & so on. Then what should he do? Further he wants to file as non taxable income this year. Please suggest?
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