S
Sanjeev Kumar
Hi Which ITR to be used (ITR 1 or ITR4) for income comprising (i) Salary 26,00,000 (TDS under 192) (ii) Consultancy fees 50,000 (TDS under 194JB), (iii) FD interest 15000
Facebook
Twitter
Linkedin
I feel it's your choice.
You can choose ITR 1 or 4.
Since the income from consultancy is not much you can choose ITR 1 for easy filing.
But if you wish to save some tax then you can use ITR 4
If you need any further assistance you can mail me at canamanmaloo@gmail.com or book consultation at: https://www.taxontips.com/tax-notice-personal-consultation/
Use ITR 3 or 4(if claiming u/s 44ADA). For any assistance in filing, connect with us at ca.pujasharma@outlook.com
T&C applyS
S Ranjit Reddy
I am working under indian railway and my income is 3 lak per annum and i am not paying any tax.
I have 3 acre of agriculture land which is gifted by my family . I have no time to do farming so i give my land to a farmer so they do farming . He make profit of 3 to 4 lakh from farming
Can i show this additional 3 lakh income in my ITR so it may help me future
You can show it as lease from agricultural land and show it as exempt income.
If you need any further assistance you can book consultation at: https://www.taxontips.com/tax-notice-personal-consultation/
A
Anoop
Me and my wife are joint Home owner (this is our 2nd home). I am Salaried and my wife is a Housewife. Our this home is rented out. I have taken Loan and I file taxes. I have to submit Home Loan docs to my company for Income Tax saving. Tenant is submitting rent to my Wife account. So do I need to declare Rental Income in my company? I am trying to save taxes and I am thinking If I show Rental income. it can reduce my tax benefits. Please suggest.
A
Anoop
Me and my wife are joint Home owner (this is our 2nd home). I am Salaried and my wife is a Housewife. Our this home is rented out. I have taken Loan and I file taxes. I have to submit Home Loan docs to my company for Income Tax saving. Tenant is submitting rent to my Wife account. So do I need to declare Rental Income in my company? I am trying to save taxes and I am thinking If I show Rental income. it can reduce my tax benefits. Please suggest.
As per Income tax provisions, if property is co-owned, then rent and interest on home loan deduction is to be taken proportionately in ratio of share of property, practically salaried employees take full deduction of Home loan and show rent in Wife income. You can accordingly make your decision.
T&C applyA
Anoop
