Which ITR form Suitable If our Income
1) Income from Business U/S 44AD
2) Income from Profession U/S 44ADA
3) Income from other sources
4) Profit on sale of agricultural land situated in fully rural area.
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Which ITR form Suitable for.
Replies (9)
Quick Summary
Go for ITR 4
(Business and professional Income, ifos, exempt income ) to be report in ITR-4
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Where show profit on sale on agricultural land fully situated in rural area, in ITR4
How can everyone say it's itr 4.
It's not accepted.
Quantum of income is not mentioned.
It's not accepted.
Quantum of income is not mentioned.
Profit on Sale of Agricultural Land in Rural Area is a Exempted Income as it not taxed as a capital asset profit
It's an exempted income.
I think you know the difference between exempted income and taxable income
I think you know the difference between exempted income and taxable income
If the Agricultural Income is less than Rs. 5000 - then this can be reported in ITR 4.
However, if the exempt income is more than Rs. 5000 - then ITR 3 is to be used.
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