Which itr form

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157 Points Posted on 06 October 2020
assessee have professional income of 3 lakh in bank statement which is casual in nature. so, now can i file itr1 by showing it commission income in other sources?
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On 06 October 2020 at 20:38 Report
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Quick Summary
This discussion clarifies which Income Tax Return (ITR) form is appropriate for individuals with professional income. It highlights that if you have professional fees, particularly from freelancing, and no commission, ITR3 is generally the correct form. However, if your receipts are below a certain threshold and you wish to declare income under a presumptive scheme, ITR4 under Section 44ADA might be an option, declaring at least 50% of your receipts as profit.

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Tax consultant
5895 Points Posted on 06 October 2020
If there is commission then the person fill ITR3
and if he has only income from proffestional no commission then ITR 4
OTHER SOURCE IS WRONG
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On 06 October 2020 at 21:34
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a
1620 Points Posted on 06 October 2020
ITR 3
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On 06 October 2020 at 21:37
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157 Points Posted on 06 October 2020
So, in gross reciepts i have to show same amount as of profit amount?
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On 06 October 2020 at 23:11
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Tax and Business Consultant
11616 Points Posted on 06 October 2020
What is your business i.e Sources of income
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On 06 October 2020 at 23:52
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157 Points Posted on 07 October 2020
It's professional fees for freelancing services to travelling company. but tds is not deducted.
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On 07 October 2020 at 00:28
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204 Points Posted on 08 October 2020
What I understand that you have total receipts in your bank account aggregating to 3 lakhs. if that is correct you can go for 44ada and declare your income above 50 percent in itr4.
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On 08 October 2020 at 23:25

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