Income tax return a.year 2014-15

ITR 927 views 9 replies

Sir,

Am working in Private Ltd Company and getting the annual Salary Rs.1,85,500

and also doing the Part Time Business (Canteen Meals Supply) total Bill amount Rs.3,31,102 for the Financial year 2013-14 now am file my IT Return for the follwing workings.

Income From Salary = 185500

Income From Business=26488

Total Bill amount Rs.331102 X 8% = 26,488)

the above situation what type of ITR am using? Example ITR-1,ITR-4 or ITR 4S

Kindly explain the correct ITR form to me.

Thanking you

R.Iyappan

9894818701

Replies (9)

You should go for ITR-4 ( if opted for presumptive taxation then go for ITR-4S)

itr 4s will be applicable as it seems from your query because you are calculating canteen income in accordance with 44ad.

You should opt for ITR 4S, as you want to make use of section 44AD's presumptive taxation.

Thereunder form 4S, you should disclose your salary income as well. Column for Salary income, house property income is also provided in thee form.

Sir,

I Am working in a Govt. Department and getting the annual Salary is more than Rs.2,50,000

and also earning other income from freelance data entry work is more than 3,50,000 for the Financial year 2013-14 now am file my IT Return for the follwing workings.

the above situation what type of ITR am I using? Example ITR-1,ITR-4 or ITR 4S

Kindly suggest me right ITR form to me. VERY URGENT

Thanking you

RP Sati

 

Dear RP sati,

if you have registered your business of freelancing anywhere(like openeing a separate account in bank for the same or printed invoices for you fees) then it will be considered as your business income, & you should go for ITR-4

But if it has no other implications(like only part time) then i guess ITR-1 is ok. show the income u/h Income from other sources.....

Dear RP sati,

if you have registered your business of freelancing anywhere(like openeing a separate account in bank for the same or printed invoices for you fees) then it will be considered as your business income, & you should go for ITR-4

But if it has no other implications(like only part time) then i guess ITR-1 or ITR-2 is ok. show the income u/h Income from other sources.....

Dear RP sati,

if you have registered your business of freelancing anywhere(like openeing a separate account in bank for the same or printed invoices for you fees) then it will be considered as your business income, & you should go for ITR-4

But if it has no other implications(like only part time) then i guess ITR-1 or ITR-2 is ok. show the income u/h Income from other sources.....

Dear RP sati,

if you have registered your business of freelancing anywhere(like openeing a separate account in bank for the same or printed invoices for you fees) then it will be considered as your business income, & you should go for ITR-4

But if it has no other implications(like only part time) then i guess ITR-1 or ITR-2 is ok. show the income u/h Income from other sources.....

agree with Saloni


CCI Pro

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