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Which itr to be filed ??

ITR 426 views 9 replies

Hello friends 

I am a Chartered Accountant by profession . Currently I am working as a consultant in an audit firm, i am not a regular employee of that firm and every month i get professional fee from that firm .They had also deducted TDS u/s 194 J from my income..so plz guide me as to which itr should i file to show my income?

Replies (9)

ITR - 4 only and you should maintain proper accounts.

 

You need to file ITR 4
Yes u need to file ITR 4
ITR 4 to be filed .........!!!
No one is a scholar....but im surprised that a ca asking this question....

Ashok @  I am also surprised that u r asking dis question ? 

A related question - In 2013-14 i worked as a professional and independent consultant and for the professional fee i filed ITR4 last year. in 2014, i started working as a regular professional (earning a monthly salary) and had no earnings as a consultant - DO i file ITR1 or still ITR4? I am not related to the field of taxation and so clueless. Appreciate some clarification.

If you were employed then you may file ITR-1. ITR-4 would be required if you would have acted independenlty (not under any employer. Your tax deduction should also have been u/s 192[Salary] and 194J[Professional] and you may confirm this from form 26AS.

 

ITR-1 should suffice.

 

ITR-1 can not be used by an Individual whose Total Income for the assessment year 2015-16 includes:-

a) Income from more than one House Property; or
b) Income from winnings from Lottery or income from Race Horses; or
c) Income under the head "Capital Gains" ,e.g., short-term capital gains or long-term capital gains from sale of house, plot, shares etc.; or
d) Agricultural income in excess of ₹ 5,000; or
e) Income from Business or Profession ;or
f) Loss under the head 'Income from other sources'; or
g) Person claiming relief under section 90 and/or 91;or
h) Any resident having any asset (including financial interest in any entity) located outside India or signing authority in any account located outside India or
i) Any resident having income from any source outside India

Hello

ITR-1 is applicable in ur case.. 


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