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Which ITR for actor?
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?
Replies (6)
Quick Summary
Generally itr 3 but if his revenue is < 50 lakhs then he can opt presumptive taxation scheme and file itr 4
Revenue is around 2 lacs.
Itr 4
Then itr 4
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.
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
i.e ITR 4 if you want to show income under Presumptive Taxation or ITR 3 as normal' PGBP Income
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