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Which ITR for actor?

03 October 2020

One of my actor friend wants to file a return. He hasn't had much income during the last year. Which ITR should he fill - 3 or 4?

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6 Replies

Sujitha V (111 Points)
Replied 03 October 2020

Generally itr 3 but if his revenue is < 50 lakhs then he can opt presumptive taxation scheme and file itr 4

Vbhu Malhotra (43 Points)
Replied 03 October 2020

Revenue is around 2 lacs.

ayusmita (Tax consultant) (5890 Points)
Replied 03 October 2020

Itr 4

Sujitha V (111 Points)
Replied 03 October 2020

Then itr 4

Jayesh Kumar (24 Points)
Replied 04 October 2020

There is no such ITR Form prescribed for filing income tax return of any actor it all depends of nature, source and amount of total income.

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 04 October 2020

If your income is less than basic Exemption limit i.e less than 2,50,000 than you are not required to file income tax return as per income tax Act, 1961. Than also if you want to file Voluntarily, than you can use both form..
i.e ITR 4 if you want to show income under Presumptive Taxation or ITR 3 as normal' PGBP Income