What the ITR form need to submit for Director in a private company

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CMA
36 Points Posted on 02 September 2021

What the ITR form need to submit for Director in a private company for the FY 2020-21

since he is getting as salary less than 20 L

Please suggest

 


 

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On 02 September 2021 at 14:30 Report
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This discussion clarifies which Income Tax Return (ITR) forms are suitable for directors of private limited companies. It confirms that directors cannot file ITR-1, regardless of their salary. They should generally use ITR-2, unless they have income from a business or profession (PGBP), in which case ITR-3 is required.

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SEO Sai Gr. Hosp.
212455 Points Posted on 02 September 2021

Director of any Pvt. Ltd. Co. can file either ITR2; or ITR 3 if have any income from PGBP.

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On 02 September 2021 at 15:59
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CMA
36 Points Posted on 03 September 2021

Even if the director is getting less than 50 laksh also go with ITR 2?

Please confirm.

Thanks & Regards,

Manikandan M

 

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On 03 September 2021 at 13:06
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SEO Sai Gr. Hosp.
212455 Points Posted on 03 September 2021

Yes. For clearance of your doubt; in any case, Director of company cannot file ITR1

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On 03 September 2021 at 13:19
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CMA
36 Points Posted on 03 September 2021

Thanks for your reply sir.

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On 03 September 2021 at 14:19

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