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Itr 2 or itr 4 ?

ITR 472 views 4 replies

Mandar D. Rane

CA Final & CS Executive Student

236 Points Joined November 2008

Hi,

I have been filing Income Tax Returns in form ITR 2 for two of my friends over last 3-4 Years. They have only commission income from PAN CARD CLUBS. Have I made a mistake by not showing it in ITR 4 ?

As far as TDS Refund is concerned, they have received it properly without any question from IT Dept regarding the form used for Return.

Please Guide.

Replies (4)

NAVIN AGICHA

HELPING HAND

1313 Points Joined April 2015

Now you know your mistake, and as you have furnished proper details in itr 2 instead of itr 4 you will not face an problem. Next time take care of it.

Mandar D. Rane

CA Final & CS Executive Student

236 Points Joined November 2008

Is it really a mistake in choosing a ITR 4 instead of ITR 2 ? or it actually doesnt matter ? Casue I m showing required amounts of Gross incomes as per TDS certificates and expenses under section 52.

What are the disadvantage of using ITR 2 instead of ITR 4??