Save Rs 499 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Income Tax Return Form?

296 views

Save Share

Join Us Follow Us Add as Source

Swarup Datta

MBA

36 Points Posted on 27 December 2021

Sir,

I have e-filed ITR-3 in earlier Assessment Years (AY 2018-19, AY 2019-20) as a shop owner (Business with No Account Case). But I have shutted down the shop (business) in January'2020.,

Now, I have only the income from the source of Bank interest.

In this case, should I file ITR for AY 2021-22? If yes, which ITR form (ITR-1 / ITR-2 / ITR-3) should I file for the AY 2021-22?

Thanks & regards,

Swarup Datta.

Replies (3)

Quick Summary

A shop owner who previously filed ITR-3 for their business income has now ceased trading and only has bank interest income. They are seeking guidance on whether they still need to file an Income Tax Return for AY 2021-22 and, if so, which form (ITR-1, ITR-2, or ITR-3) is most appropriate for their current circumstances.