Itr 4s or itr-1

ITR 37098 views 12 replies

Hi - I'm salaried person from pvt firm. I've been filing ITR-1 for many years. Last year I got convinced that ITR 4S is more suitable for me and I filed it. This year I'm confused and not sure which form should be filled. Please help me differentiate difference and suggest right form. 

Thanks in advance. 

Regards,

Panjwani

Replies (12)

If you are a salaried person getting Form 16 go for Form No ITR 1

 

(ITR 4S is presumptive Income, why you want to go for it ?)

 

Regards

ITR 4 for Income from property business or profession in that business who have presumptive income as specified in income tax act they need to file ITR 4S. As you are a salaried person only salary income you have then you should file only ITR 1 only 

You should file ITR1 only

ITR 1 and ITR 4S both have same colour

but u go for ITR 1

Originally posted by : CA Kedar Sakhardande


If you are a salaried person getting Form 16 go for Form No ITR 1

 

(ITR 4S is presumptive Income, why you want to go for it ?)

 

Regards

AGREED

 

 

 


Go with ITR-I

 

 Proceed with ITR1

Thanks everyone. Now the issue is by mistake I've submitted ITR - 4S last year. Can I re-submit my ITR with ITR-1 ONLINE. what is the process? Please advise.

Revise your last years return and resubmit a new return in ITR 1 

ITR 4s is for Business Income, go for ITR 1, and yes you can revised your last year return

Dear Sir,

I worked in Saudi Arabia from Dec 2013 to Nov. 2014 in Saudi Arabia. Saudi is a tax free country. I got my salary in cash which i transferred to my icici bank account, held in india. i want to know whether i have to pay any taxes and need to file itr, if need to file itr, which itr i should file, itr1 , itr 4s etc. Total amount i transferred to my icici account from april 2014 to nov 2014 is approx 7 lakhs. I held one nro account with idbi, in which they have deducted rs 2130 as taxes, and it is also showing as refundable amount in my online profile for filing e taxes.
Please respond. I was unemployed from dec 2014 to april 2015.

I filled my ITR for A.Y. 2015-16 & 2016-17 with ITR-1 Showing Salary & Other Source income (Received in Cash). Total 1,64,XXX & 1,90,XXX.

And for my friend for A.Y. 2016-17 with ITR-1 But he has Sallary & a Shop with E-mitra license in which he was deducted TDS also .

Do i need to revise it to ITR-4S or it is OK with ITR-1

need more info to give solution ring me on 9694404548.


CCI Pro

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