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Which itr form should i use - itr4 or itr2?
Last 2 years I have been submitting ITR4 due to some income from consulting I had done (got income under sec 194J). In FY 2016-17, I did not get any income from consulting (no income under sec 194J). I had income only from bank interest and capital gains on sale of mutual fund units. Now, for AY 2017-18, which ITR form must I use? If as a continuation I use ITR4 (now ITR3), I will have to show zero income under business section. Can I use ITR2? Or is it advisable to use ITR4 (ITR3)?
Replies (5)
You can choose ITR2, if capital gains from MF taxable.
Not mandatory to continue in ITR 3
File return under ITR-2 it is not compulsory to file same ITR each year.
Selection and filing of appropriate type of ITR depends on nature of income/s and in your case ITR 2 is sufficent to file. But if you wish to file ITR 3 you may do so to keep consistency but its not mandatory.
you can file ITR 2 no need to continue consistency as it is depend on nature of income
All respectful professionals,
Thank you so much. I appreciate your timely and to the point respone to my query.
Regards,
Makarand
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