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Income tax for salary+business

ITR Filing 826 views 13 replies

Raminder Singh Sandhu

Proprietor

52 Points Posted on 29 June 2015

Hello Friends,

I have a query for ITR of year 2014-15. I was working in a company till December, 2014. The company deducted TDS from my Salary there. In December, 2014 I quit my job and started my own proprietorship company.

Please suggest which ITR form is needed to be filled and any other information for filing the same would be a great help.

Regards,

Raminder Sandhu

Replies (13)

ARUL PRADEEP

ARTICLE ASSISSTANT

175 Points Posted on 29 June 2015

what is the nature of business of ur proprietorship?

CA.Veerendra V Patil

Ptoprieter

27 Points Posted on 29 June 2015

Itr 4 need to be file in this case

deepak

Student CA Final

60 Points Posted on 29 June 2015

Itr 1 wud be required

praveen choudhary

31 Points Posted on 29 June 2015

Itr 4 need to befile bcoz of our business

Jaspal Singh

Practising CA

449 Points Posted on 30 June 2015

Itr 4 would be appropriate ..

meet shah

Chartered Accountant

27 Points Posted on 30 June 2015

ITR 4 should be filed

Shashank Upadhyay

Students

288 Points Posted on 30 June 2015

You should opt for ITR 4.

M.N.GAJENDRA

Tax Practitioner

39 Points Posted on 30 June 2015

Yes It's ITR 4 you have to submit

rakesh

student

29 Points Posted on 30 June 2015

ITR V form income tax calculate same as we solve in book but deposoit to govt account monthly basis to take some assumption if employee are not able or present all details

ARUL PRADEEP

ARTICLE ASSISSTANT

175 Points Posted on 30 June 2015

ITR 4 ONLY....

vishnu bhardwaj

Tax Advocate

212 Points Posted on 30 June 2015

Dear Friend,

You can file itr 4s if you show your business profit @ 8% or Higher and if you have audit of accounts by ca or or your profit is less then 8% you file itr 4

Raminder Singh Sandhu

Proprietor

52 Points Posted on 30 June 2015

Thank You all for your replies.

Dear Mr. Vishnu,

As I started my business this year only, so I am not in profit yet if I'll add my establishment expenses. So, Can I consider it as lower than 8% and file ITR 4 ??

Also, I checked in IT website, ITR-4 is for proprieters only. What about my income from salary that I collected during job before starting the business ??

Thanks & Regards,