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WHICH ITR FILING

151 views 2 replies

NAGESWARAN

ACCOUNTANT

834 Points Joined June 2014

Dear expert

Is there any mandatory for filing ITR3 or ITR4 to apply for loan application.

The client want to apply for loan application. For that ITR3 is suitable or any one ITR is elegible.

Is there any restrictions

Thanks

Replies (2)

Kumar Sushank

General Manager - Finance

1040 Points Joined March 2017

ITR Forms depend on profession & income of person, You can apply for Loan with any ITR Forms which is suitable & submitted by you. There are no restriction.

I am giving below details about ITR Forms.

1. ITR 1 is suitable for salaried person (Lesser than 50 Lacs p.a.) as well as pensioner person, You can include one house property & Income from other sources also.

2. ITR 2 is suitable for which people they are getting either salary more than 50 lacs p.a. It includes more than one house property, Capital Gain & Foreign Income. It is mandatory for companies director.

3. ITR 3 is suitable for which people they are earning through his business or they have any partnership in any firm.

4. ITR 4 is suitable for salaried person along with if they have other income or one house property or have some presumptive income.