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Which ITR form to be used
Sir, I am a self employed with income of 2 lakh & having significant amount of bank transactions. Which ITR to be used?
Replies (6)
Quick Summary
You may use ITR-3/ITR-4 ..
If the annual income is less than 2.5lacs then ITR filing is not required
If the annual income is less than 2.5lacs then ITR filing is not required
You may opt for ITR 3 or ITR 4 as applicable:
ITR 3: For individuals and HUFs having income from profits and gains of business or profession
ITR 4: For Individuals, HUFs and Firms (other than LLP) being a Resident having Total Income upto Rs.50 lakhs and having income from Business and Profession which is computed under sections 44AD, 44ADA or 44AE
It actually depends on what type of source of income it is.
Whether its rental income,Business income etc
Sir, business income
ITR 3 / 4
Thank you sir 🙏
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