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ITR Type for Salary and Proprietorship

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Mohd Arif

Finance Professional

39 Points Posted on 01 November 2019

Dear All,

Pls help out to find the correct ITR form for an individual who is getting salary from the company and also having a proprietorship business registered under GST in his name .
which ITR form we need to use.

Thanks in advance.

Replies (10)

RAJA P M

"Do the Right Thing...!!!"

128162 Points Posted on 01 November 2019

If Your business is eligible u/s 44ad then You can file ITR 4 for presumptive taxation with Your salary income...

If not eligible then You can file ITR 3 with Salary income...

Surjeet Negi

947 Points Posted on 01 November 2019

You can file ITR 3, however you can also check presumptive return ITR4 sugam if total income up to 50lac.

sabyasachi mukherjee

Profession

28271 Points Posted on 01 November 2019

There are some cardinal points:
1. Nature of propeitorship business
2. Value of business
3. Itr are based on such guidance...

RAJA P M

"Do the Right Thing...!!!"

128162 Points Posted on 01 November 2019

Originally posted by : sabyasachi mukherjee
	There are some cardinal points:1. Nature of propeitorship business2. Value of business3. Itr are based on such guidance...

Yes.... I Agreed.

Kapadia Pravin

17269 Points Posted on 01 November 2019

@ Mohd Arif

You are having having income of salary and proprietory business income and hence required to file ITR 3.

Depending upon turnover of business - that is if it is above 1 crore than tax audit under 44AB is applicable. -------

You have OPTION to choose presumptive taxation under 44AD (provided your business qualifies under it) upto a turnover limit of 2 crores (without tax audit) alongwith other section conditions. If you opt for 44AD then you can file ITR 4 (Sugam)