Income Tax Return Filing AY 2014-15-Which forms to use?

It is once again time for filing IT return. If you have only one source of income then there will be no problem. But in case if your income is from different source then you will get confused in using forms for the same. So let us simplify this in today’s post.

Note-We deactivated commenting option for this post. If you have any doubts, then either ask the same in the latest post “Income Tax Return filing forms for AY 2016-17 (FY 2015-16)-Which form to use?” or use BasuNivesh Forum.

Income Tax Return

Refer the new forms list for FY 2015-16 (AY 2016-17) details in below post.

1) ITR-1 SAHAJ (Indian Individual Income Tax Return)

Who can use this form?

  • Income from Salary/Pension
  • Income from one House Property (but excluding those cases where loss is bought forward from previous years)
  • Income from Other Sources
  • In case when income of spouse or minor child to be clubbed with income of assesses (but do remember that income to be clubbed falls into above income category)

Who can’t use this form?

  • Income from more than one House Property
  • Income from winning from lottery or income from horses
  • Income under the head of Capital Gains (whether it is LTCG or STCG)
  • Income from Agriculture/exempt income in excess of Rs.5,000
  • Income from Business or Profession
  • Loss under the head of “Income from Other Sources”
  • Person claiming relief under the Sec of 90 and or 91.
  • Any resident having any asset located outside India.

2) ITR-2 (For Individuals and HUFs not having Income from Business or Profession)

Who can use this form?

  • Income from Salary or Pension
  • Income from House Property
  • Income from Capital Gains
  • Income from Other Source

Who can’t use this form?

  • This form should be not used by an individual whose income for AY 2014-15 includes income.

3) ITR-3 (For Individuals and HUFs being partners in firms and not carrying out business or profession under any ownership).

Who can use this form?

This form can be used by an individual or HUF who is partner in a firm and where income chargeable to tax under the head of Business or Profession. But must not include any income except the income by the way of interest, salary, bonus, commission or remuneration. Also in case partner of firm does not have any income from the firm by way of interest or salary etc. and has only exempt income by way of share in the profit of firm, then he need to use this form only but not ITR-2.

Who can’t use this form? 

This form can’t be used whose total income for AY 2014-15 includes income from Business or Profession under any ownership.

4) ITR-4S SUGAM (Presumptive Business Income both for Individual and for HUF)

Who can use this form?

  • Business Income computed in accordance with special provisions referred to in Sec.44AD and 44AE of the Act.
  • Income from Salary or Pension
  • Income from one House Property ( excluding cases where loss is bought froward from previous years)
  • Income from Other Sources (excluding lottery or horses)
  • In case when income of spouse or minor child to be clubbed with income of assesses (but do remember that income to be clubbed falls into above income category)

Who can’t use this form?

  • Income from more than one house property
  • Income from lottery or horse
  • Income under Capital Gains
  • Income from agriculture/exempt income in excess of Rs.5,000
  • Income from special incomes
  • Income from a profession referred in sub-section (1) of Sec.44AA or income from any agency, commission or brokerage
  • Person claiming relief of foreign tax paid under Sec.90, 90A or 91
  • Any resident having any asset located outside India.

5) ITR-4

This form can be used to individual or HUF who is carrying out a proprietory business or profession.

6) ITR-5

Who can use this form?

This form is mainly meant for firm, LLPs, AOP, BOI, artificial judiciary person referred in Sec 2(31) (vii), co-operative society and local authority.

Who can’t use this form?

This form not to be used by Individual, HUF or companies.

7) ITR-6

This form can be used by companies but other than companies claiming exemption under Sec.11.

8) ITR-7

This form can be used by persons including companies who are required to furnish return under Sec.139(4A), 139(4B), 139(4C), or 139(4D).

Note-We deactivated commenting option for this post. If you have any doubts, then either ask the same in the latest post “Income Tax Return filing forms for AY 2016-17 (FY 2015-16)-Which form to use?” or use BasuNivesh Forum.

Image courtesy of [Grant Cochrane] / FreeDigitalPhotos.net

570 Comments

  1. Sir,

    My main income is salary from private company with tds under 192.

    I also have received payment (around 1 lakh per year as multiple small payments) for adhoc online professional/technical services, and they have deducted tds under 194J.

    Can I file ITR form 1, as my main income is from salary, and show the above amount from professional services as income from other sources?

    Please guide me. Thank you.

  2. My wife is getting income from only on house rental 3L p.a which form i need to use to submit IT returns. is that ITR-1

  3. My wife has part time tuition income of apprx 2 lacs p.a. during FY 15-16. Can I show her income as income from other sources and file ITR1

  4. I have individual business income (video production). We also started a partnership firm in Feb 2016, and want to file presumptive income for that. We didn’t withdraw any money from that. So do I need to file my individual return as ITR-5 and partnership as ITR-4S? Do I need to file two returns?

      • Thanks for your reply. But what about my personal income. I normally file ITR-5, but this year we made the partnership firm too. I haven’t withdrawn any salary or income from the partnership firm. So that’s what I wanted to ask. If my income from business done on my personal name and interest, would be filed under ITR–5 and then another ITR-4S for the partnership firm. My personal income is not on presumptive basis, only the partnership’s income is on presumptive basis. So I am a bit confused.

        Thanks!

        • Abhishek-Sorry, in that case use ITR5. I thought your own income is presumptive.

  5. i am aaccountant i want to know return form of income tax (income is agriculre & electrician labour) what return form i use plz say.
    thanks & regards
    lokesh shukla
    m-9463462360

  6. I am a student. I interned with a firm and they paid me after deducting TDS under Section 194J (professional or technical service). I also have winnings from a competition with TDS deducted under Section 194B. Is it fine for me to fill ITR-2 and declare my internship income as from other sources or should I have to fill ITR-4? ITR-4 seems very complex.

      • I am working in private company from july 2016 .My gross salary not come under taxable income but tax deducted under section 194J, how to file itr ? which itr need to file. ?

        • Deepak-If your taxable income is less than the minimum prescribed limit, then you can file IT return and get the refund of TDS.

  7. Sir, My son has paid the premium for he health insurance of my wife and for myself by means of a bank cheque. But the health insurance company has issued separate receipts in the name of my wife and in my name. In short the insurance company has not issued receipt showing the name of my son in both receipts. Instead the insurance company has issued receipt in my wife’s name and in my name. Whether my son can claim 80 (d) with these receipts for health insurance or he has to insist the insurance company to issue receipt in his name for the payment of premium paid for his parents. I request clarification in this regard.
    with regards.
    Sankarasubramanian.

    • Sankarasubramanian-No issues. He can claim the deduction.

      • Thank you for your reply.
        regards.
        sankarasubramanian.

  8. Dear Sir,
    While filing ITR-4 in Excel Sheet, should we delete or leave blank the Unwanted parts and Schedules?Please suggest!!!!!

  9. My friend is a contractor in a bus body building company. Company issue Form16 A to him. He is not maintaining any books of accounts. Kindly guide me which ITR form he should file.

  10. Dear Sir,
    In form ITR-1, there is a column “Unique TDS Certificate No.” in TDS-2. Is it compulsory to fill this column as Unique TDS Certificate No. is not shown in 26AS? Please suggest!!!!!

    • Debadrito-TDS 2 refers to the TDS done on income other than salary income. Hence, your TDS is not from salary, then mention that number there. Otherwise, keep it blank.

  11. Sir,

    i am a govt. employee having posted in a city. i had taken home loan and getting exemption on interest and principal.
    Now i am transfered to other city and purchased flat with home loan in that city. can i sum up for the interest paid in both banks as home loan?

    • Kakwani-Whether both homes still owned by you?

      • Yes sir…

  12. I have retired from PSU service. Now I have following income:- monthly annuity payment from LIC, Employee Family Pension Interest from FDs. I am doing consultancy and getting professional fees from various companies. I also deal in shares and have made loss on long term and gain on short term. Which form I should use? Further what expenses I can deduct from my professional fees paid to me? Do I have to keep proof for these expenses?what is the rate of income tax on professional fees?

    • Rajesh-You have to use ITR4. Yes, you have to keep the proof of expenses. IT rates are same as that of other individuals.

  13. Hi Sir,
    My employer deducts Rs.1560 annually from my Professional Fees of Rs.192000 p.a. as Professional Tax. In ITR 4 form under No-Accounts Case Column, how to show this deduction?The rows are of Gross Receipts,Gross Profit,Net Profit in Part A-P&L in ITR-4. How to show this in Schedule BP? Please suggest!!!!!!

    • Dear Sir,
      My Professional Fees are being deducted under section 194J of the IT Act. Hence , I have to file ITR 4 .
      As my employer deducts Rs.1560 annually from my Professional Fees of Rs.192000 p.a. as Professional Tax. In ITR 4 form under No-Accounts Case Column, how to show this deduction?The rows are of Gross Receipts,Gross Profit,Net Profit in Part A-P&L in ITR-4. How to show this in Schedule BP? Please suggest which form to file in this regard?

      • Debadrito-You have to show under the head of salary income (Schedule S a from (a)).

  14. Dear Sir
    Thanks for providing your precious time to readers..
    I have a query..please help me

    I am a PSU employee and I also do share market trading, mostly delivery based but also occasionally intra day.
    I had filed my ITR for assessment year 2015-16 on 31st Aug, 2015 and also had some refund.
    I also started trading in 2014 and had some profit. But since i was new and did not have any idea so i could not declare my profit from share market.
    I want to pay my tax for the income which i did not declare. I filed ITR-1. How to make a rectification? Which form should i file as revised form? Please help.

    • Niranjan-You have to revise if you feel so and use the ITR4.

      • Sir thanks a lot for prompt reply…
        1. In form 4s there is no option for capital gain… Where do I fill the profit?
        2. If I use option of income from other sources then it is written that you ensure to file tds2 which I didn’t.

        Please help me. I m scared. Did I commit a mistake? What may be the consequences? My income from share is 60k rs.

        • Niranjan-I said ITR4. If you scared, then I suggest you to take the help of tax expert of your area. Because all doubts can’t be cleared on this platform.

  15. Sir,
    I have income from salary for which the form 16 is issued by my employer and also have earned from professional service ( as a Trainer) for which the service receiver organisation issues form 16A for TDS under 194J.

    Kindly advice which ITR form should I use for filing the return?

  16. Sir,
    I purchased NSC VIII issue in September 2015 for Rs. 2 lacs. I will get 80C benefit for only Rs. 1.5 lacs. The rest of the money Rs. 50000 – will it be taxable for the FY 2015-16?Please suggest!!!!

    • Debadrito-It will not be taxable. But you will not get any tax benefits for investing that additional Rs.50,000.

  17. Dear Sir, My son has borrowed a interest free loan from me and from my wife amouting to 1,50,000 to book a flat for him. While filing income tax return which form he has to use and in which column he has to show the loan which is an exempted income for him. Awaiting your reply. with regards. Sankarasubramanian.

    • Sankarasubramanian-It is advance you paid to him without interest. So the form will not change to him.

      • Dear Sir, Thank you very much for your reply. You mean to say that my son need not mention the amount received as loan in the income tax return. Salary income is the only source of income for him. Hence ITR 1 Form has to be used. Am I correct. with regards. Sankarasubramanian.

  18. Sir, My wife retired from service on 31.12.2015. She received gratuity and encashed earnd leave at her credit. So these amount comes under exempted income. Which IT return has to be used? At which coloumn the exempted amount has to be shown in the it return? Thanks and regards.

    • Sankarasubramanian-Mere by receiving exempt income your IT Return form will not change.

      • Sir, Thanks for your reply. From you reply I understood that my wife has to be file ITR1 since pension is the only sournce of incoem for her. More over I need not mention the gratuity. commutted pension and encashment of leave at the time of retirement. Please cofirm Sir. Regards. Sankarasubramanian.

  19. Dear Sir,
    The Professional Tax deducted from my Professional Fee should fall under which part of which schedule of ITR-4? As my total income does not exceed Rs.5 lakhs , am I eligible for rebate under Sec 87A? Please suggest!!!!!

  20. Sir i am coordinator in tpa,ihave only one source of income,my salary is 7000/ and 10% TDs deducted,in form26 tds deduct under 194j section,my problem is I’m salaried person or profession,n which itr for me

  21. Sir
    My Tax deducted section 194j,700*12=8400 total tax deduct ,CA filled itr2 ,some people say ir4 is right,what can I do ??

    • Abhi-Check the above details and decide who is right.

  22. I am An Employee in State Govt.
    Can I trading in share market & If I can trade in share market than which IT-R is applicable for mine.

    Pls Suggest & Explain.

    • Veer-Yes, you can (But check the rules of your employer). You have to use ITR4.

      • Thank Sir…………..

  23. Hello,

    I am a practicing doctor. Last 1 year I was doing part-time consulting for a firm who has cut the TDS of professional fees and filled under TDS-2 form. This I just confirmed online. I was also receiving salary from a hospital this last year. My CA filled both these Income under TDS-1 category from salary (Schedule S ) of Form 4. I asked him he said it will not be a issue.

    Can you please confirm if this is ok or do I need to claim this professional fees in some other Schedule of Form 4?

      • Thank you for the reply Mr.Basavaraj.

        My question was if its ok that the professional fees paid (which the firm has filled as TDS-2 ) is filled along with my hospital salary under Schedule S or does this professional fees need to be filled in separate schedule than the hospital salary?
        If separate schedule which one under Form 4?

        • Pallavi-There is nothing such thing that we can called as TDS 2. Please note that you have salary income and professional income. Hence, for you ITR4 is the form to file return. TDS done against professional fees must be mentioned against professional fees. No confusion here.

  24. Dear Sir,
    I am a software personnel in contractual govt. job. In which para of ITR-4 shall I enter my salary which I earn as professional fee? Please suggest!!!

    • Debadrito-Whether your income is salary or professional fee? If it is professional fee, then you must mention in ITR4.

  25. Dear Sir,
    ITR-4 is a form with many pages of which I have to fill two or three pages. Rest of the pages should be struck off or kept as it is ? Please suggest!!!

    • Debadrito-It depends your income. It is hard for me to say generic.

  26. Dear Sir,
    I am a Software Personnel earning a Professional Fee. I also have income from other sources such as bank deposits , MIS , Taxable Bonds . Which ITR Form should I fill up ?

  27. I do only Stock Trading so which IT-R is applicable for mine.

  28. Hi Basavaraj,

    In the assessment year 2016-17, I was salaried for 10 months and I then started my business as a professional. Can you guide me as to which ITR forms I should be filing? In the e-tax portal there are just two options ITR-1 and ITR-4S against my PAN. The recent budget launched the presumptive taxation scheme for professionals as well. But I am assuming these will be applicable from the assessment year 2017-2018 right?

  29. SIR,

    I AM A PROPERTY DEALER (COMMISSION AGENT ) SO IN WHICH FORM I FURNISHED MY INCOME DETAILS

    AND SIR PLEASE TELL ME BALANCE SHEET IS NECESSARY OR NOT.

    • Atul-You have to use ITR4. Balance sheet and all depends on your income range. Contact the CA of your area.

  30. MY MOTHER EARN INCOME FROM STITCHING CLOTH . PLEASE TELL WHICH ITR FORM SHE SHOULD USE TO FILE INCOME TAX RETURN

  31. Dear sir,

    My source of income is income from salary, income from car rental, commission from car insurance

    Please advise which itr form should I used?

  32. Dear Mr. Basavaraj Kudos for a very informative blog . May I request you to clarify a doubt of mine as you have been doing for so many others. My wife was teaching on retainership basis. I am aware that she has to file ITR 4 which she did. The fees earned in 9 months of AY 2015-16 was 151072. TDS is 15111. Towards expenses for travelling up to her school she has claimed 20000. Where does she have to show this in form ITR4? IT dept has reverted saying that the return is defective

    • Debasis-You have to show the expenses under the professional or business expenses.

  33. sir,

    I am doing contractor business in construction field which ITR form i used to file and whether it is required to maintain P&l and Balance sheet.What is the due date for filling the return. Under which head i have to show my income.

    • Sasidhar-Sasidhar ITR4. For individual the last date to file IT return is already over.

  34. There is one question regarding ITR1 Category of applicant.

    What is the procedure for TAx returns after filling up Form-16A for refund procedures.

    Appreciate your guidance on it.

    Thanks!

    • Dayanand-Form-16A will not the end of IT Return. It shows the income details which you have to show in ITR1. What is your exact doubt?

  35. Hi Sir,
    Which ITR form should I use. I have following:
    – Salary
    – brokrege on two vihlar and four vhiler sale
    – Some interest from saving account

  36. I have income from Salary. Income from small lodge & income from LIC commission, please suggest which form should I use.

  37. Dear Sir

    I am a LIC agent and my monthly commission is between rs. 1000 to rs. 1500. In my LIC office they are asking me to provide Tax Exemption Certificate to get further commissions. I want to know how to apply for it. And which form should I use from the income tax department. Kindly help me.

    Thanks & Regards
    Yuvaraj

    • Yuvaraj-Usually LIC deducts TDS for agents. At the end of year, it issues Form 16. You have to collect it and file IT Return.

  38. Dear sir,
    Let me clear the which itr form I fill,
    I have income from salary and small good carriage vehicle transportation income.

  39. sir
    iam a pg student(MD resident doctor) in gov. medical college. iam getting not as salary but as stipend around 42k per month.which form to use?is any excemption for this stipend?

    • Juju-It is considered as salary income and use ITR1.

  40. My friend owes a canteen in our office. He supplies refreshment to our office staff on contract basis and tax is deducted on that income. Can he use ITR-1 for filling income tax return. If not please advise which ITR form should be used. His income is less than Rs. 2 lacs p.a.

  41. sir i am LIC Agent and i have to file income tax return. so i want to ask you that which form should i file?

  42. Dear Sir,
    I have rented my car to a company and I get payment after TDS under 194I(A) and 194I(B). I do got form-16A for this.
    I have do not have salary income.
    Which ITR should I to file? ITR-1 (or) ITR-4s?
    Appreciate your clarification and Thank you in advance.
    Regards, Anu.

      • Thank you for your feedback. My income from car rental is <2L. Can't I use ITR-4s? ITR-4 is asking for balance sheet which i do not maintain.
        regards, Anu

        • Anu-From this year, they made it mandatory to have balance sheet.

  43. Hi Basawaraj,

    As per my compensation letter, my taxable income is x lakhs but I worked in that organization till jan 2015. after that I have not worked anywhere till march 2015. So is the total taxable income of 12 month is considered to calculate ITR or I need to calculate only for 10 months. Please suggest.

  44. Dear Mr. Basavaraj, I purchased a flat on home loan and am living in it. But the loan amount crosses 65 lakhs. Can I avail the benefit of sec 24 and if yes then which column of ITR 1 should I use. Thanks in advance.

    • Rohit-Yes, you can use the interest part of loan to claim under Sec.24. Which form of ITR to use depends on your source of income.

  45. Sir,
    I am post office agent my commission 50000 yearly.tds 5000. for refund which form Sugest me.

  46. I have worked only 6 months in a PSU bank , got salary for 6 months and Bank has deducted income Tax on it.
    afterwords i have left the job (no salary), i started tutions at home and earned money for 6 months in the same financial year.so want to know how to file income tax.

  47. I have no income from salary or house. Interest on FDs is 14,000/-. Long term CG is 21,000/- (selling of equity shares). Short term CG is 38,000/- (again selling of equity shares). I heard that STCG be adjusted again basic exemption limit if total income is less than basic exemption limit? The ITR2 excel utility downloaded from Incometaxindiaefiling site the values entered in schedule CG are not adjusted automatically although the total amount is below basic exemption limit. Shall it be done manually? If yes how to do it?

    • Sreedhar-If it is not updating and adjusting values, then better you do it manually.

  48. Hello Sir,

    Last year I had transferred some money to my wife’s [non working] account and she has earned interest [close to 45k after 10% TDS] on that money through FD. It would be great if you could help me with below questions:
    1. How do I club her income in my IT return. Where exactly can i mention her income?
    2. Can I directly add mine and her “income from other sources”? [the only source for “income from other sources” is FD interest for both of us]
    3. Do I need to mention her PAN number anywhere in the ITR1 form?
    4. After I club my wife’s income, how do I get the refund of the TDS which was deducted from my wife’s account?

    Thank you,
    Rahul

      • Thank you. It would be helpful if you could just tell which ITR form should I use to file retrun in such scenarios.

  49. My wife does Tuitions at home with cash income. which itr file to be filled.this year and last two years.

  50. I worked in company as intern from 1st Oct to 3rd May so they deduct 10% of payment(11000 pm) but from 8th June 2015 they hired me as employee,

    they have given form 16 A till May-2015 , on the basis of which I have to file tax return. (as I was hired as an employee after the completion of AY 2015-16 they did not give me form 16.)

    no tax is deducted after June 2015.

    which Form should i fiil ??

    Thanks in advance

    • Sam-You have to file the return by combining both the income. They might not deducted TDS due to your income range may be below Rs.2,50,000 during that period of time. Hence, it does not mean that you are not liable for tax. You can use ITR1.

  51. Sir,
    I have salary income and home loan. I haven’t claimed the last year home loan. How do I claim that in current year and for that which form should I use for return filing? can you please advise?
    Thanks,
    Mani

  52. Hi, Am a Recruitment Consultant and my annual income for 2014 – 15 was 8.56 lacs pa.
    I haven’t maintained any books or P&L or Balance Sheet. so my question is,

    1) Under this circumstances do i need to file ITR 4 or ITR 4s.
    2) If ITR 4, than would i need to show P&L and Balance Sheet statements.

    Please advice.

  53. I have a query regarding to file the ITR. One of my friend has rental income approx 2 lakhs and he wants to fill the ITR.
    He don’t have any bank account and all the rental income he received in cash. how can he file ITR?
    He received this rental income from mine and I have shown this rent paid (HRA) to him in our office records with his PAN number. So he wants to file the ITR.
    Kindly let me know the way to proceed the ITR filing?

    Best Regards
    Randhir

    • Randhir-He has to use the ITR1 in case he is receiving this property income from a single property. If he have multiple property income then ITR2A.

  54. Hi Basu,

    Need some clarification!!

    I am a salaried person and got a Form16. Also, I opened an FD account and closed in 1yr for which I got a TDS certificate (i.e. form16A) from Bank. So wanted to know, is it necessay that I need to submit the Form16A while filling. Since I noticed that while filling it is asking me to pay more tax when bank has already deducted the tax from my interest.

    Regards
    MKS

    • Manoj-Bank deduct TDS at 10%, but if your taxable income falls under 20% or 30% bracket, then you have to pay accordingly. If taxes due, then pay it.

  55. I have constructed a house 10 years back and taken loan. I have claimed income tax benefit of both interest and principal. Now I have extended my house and taken loan again. Can I claim income tax benefit again? Pls suggest

    • Alfred-If such loan allotted to you as home loan, then YES you can still get the tax benefit.

  56. i am a public sector employee with regular income ..along with that i do stock trading ..which ITR form need to be filled . Kindly suggest

  57. Sir,
    I work in Pvt sector Organisation. Company has issued me the Form16 also. But, my organisation has deducted more taxes than actual as it does not include my savings/exemptions e.g. LIC premiums & PPF. So, I am entitled for a refund.
    Also, in my 10 year old PPF account, the interest paid in the FY2014-15 is Rs.60000/-.
    Now, my query is:-
    1. Which ITR is to be filed?
    2. Is my interest in PPF account is to be shown as income? If yes, in which column?
    3. There is a single column for 80c exemption in the ITR-1. Shall I need to put the summed up amount of 2 LIC premiums and PPF in that row? Or there should be separate columns? I have downloaded ITR-1 and found it as only one single row there.
    4. Other than return what are other documents that are needed to be submitted and how? Eg. if I reqd. to submit LIC premium receipts, PPF statement, then where and how on Income tax website?

    • Subhajit-1) ITR1. 2) Not required. 3) Yes. 4) No other documents required.

      • Thanx for your clarification. After your clarification, I have just uploaded the completed ITR-1. And also got the EVC by netbanking. Now, my query is as the 80c) deductions are not shown in my form16 and I have checked in TRACES also, how my refund request will be processed without any proof submitted by me as of now like LIC receipts and PPF account statement?

        • Under 80c deductions, only company PF(not PPF) contribution is shown.
          Also, I have got acknowledgement for the submitted return.

        • Shubhajit-There is no rule that you must submit investment proof to your employer and must reflect in Form 16. You can show them while filing IT Return.

          • Thanx for the clarification.
            But, in filing IT return I’m showing the investments, but there is no way to submit the proof of them during filing the return. That was my question how to submit the investment proof during filing return or will there will be any system that the proofs might be enquired at later stage

            • Subhajit-You no longer submitting the proofs. But mentioning it.

  58. Hi Sir,
    My wife started trading last year and did intra-day trading & F&O trading. She incurred loss in that trading. She don’t have any other income. This is the first time she is going to file ITR. Which ITR to be used?

    • Kutumba-It is business income. Hence, ITR4.

  59. Sir,
    If i have got Salary Income. And i have got losses from share trading. Which ITR should i file ? ITR 1 is Salary Income that in know. But do i need to show my trading loss ? If no, is it ok to file ITR-1, right ? If i have to compulsory show, which ITR form should i file ?
    thanks

    • Prijesh-If trading is short-term in nature then it is considered as business income and you need to use ITR4.

      • Thank you Sir !! 🙂

  60. I am director of a pvt company and receives professional fees from company u/s 194J. I also have a sole-proprietor business and that comes u/s 44AD as presumptive income.

    1. Which ITR form to use for FY 14-15 since both professional and business income are there?
    2. Which heading professional fees from company be shown?
    3. Which heading sole-proprietor business income be shown ?

    Thank you.

    • Aditya-1) ITR4. 2) & 3) Business or Profession income.

      • Thanks a lot for the reply.

        I have not maintained personal books of accounts for FY 14-15 year and have to provide balance sheet and P/L if file ITR 4. Can i file ITR 4s mentioning professional fees as Income from other sources and paying tax? Will there be any problem for filling ITR4s in such situation??

        • Aditya-Please check the eligibility of ITR4S.

  61. I have worked in India till Nov 2014 and TDS was deducted from my salary. Now I have moved to Senegal. The company pays the taxes (I am calculating the tax paid based on the details given by our finance/ accounts deptt). Since I stayed more than 182 days in India, I am considered a resident and so I will be taking tax relief under section 91 (there is no DTAA with Senegal). I have also got some money from LIC P&GS deptt against superannuation and earned interest in savings bank account in India. Please guide me with following queries
    1) Which ITR form am I required to fill?
    2) Where do I show the money received from LIC P&GS?
    3) Is it ok if I show the approx income tax deducted by my present country (Senegal)?
    4) Do I have to club my salary in India and salary abroad, under SALARY?

    • Rajeev-1) Use ITR1 2) I don’t know the LIC and GS details. Hence, hard to predict and say whether they are exempt income or taxable income. 3) Approximate will not work out. 4) That you have to discuss with employer as I don’t know your employer is from India or aborad. Also, I am not aware on which status they sent you to other country.

      • Thanks a lot for your reply.

        1) I am in Senegal as an Expat in a company registered in Senegal (not Indian). Since I am already paying income tax here and am still considered a resident (more than 182 days in India), I need to claim relief against section 91. ITR1 has no such provision for relief under section 91. Does this make ITR2 applicable?
        2)The money from LIC P& GS (Pension & Group Schemes) is against the 1/3rd that I asked for lumpsum when withdrawing superannuation money from my ex-employer in India. This was sent to my account by LIC

        Thanks

        • Rajeev-1) It is mandatory to file return if you are claiming exemption under Section 91. I think you should show this in exempt income.
          2) Commutation from pension is taxable income.

          • There is a separate sheet called FSI in ITR2 where the foreign income is mentioned and the relief under section 91 is entered. In that case, will ITR2 be the correct form to fill?

            Further, there is a sheet called OS in which income from other sources is entered. I want to know where in that sheet will I enter the pension from superannuation and under what head?

            Thanks

  62. Hi Sir,
    Which ITR form should I use. I have following:
    – Salary
    – Employ stop option. I have purchased some stocks which was provided as employee stock options.
    – Some interest from saving account

      • Thank you.
        So the difference of current price of the stock and the price at which I purchased will be considered as salary.. right?

        Thanks

  63. Arvind Kumar Jha says
    August 19, 2015 at 12:41 PM

    Your comment is awaiting moderation.

    Dear sir,

    I am a salaried person. i got Rs. 255577/- p.a. & also get lic commission for Rs. 203291/- Please tell me how much maximum expenses claim on First year Commission & Renewal Commission in Rs. & percentage, I am waiting your reply

    Thanks & Regards
    Arvind Kumar Jha

    Reply

    • Arvind-How much expenses you can show is purely depend on you. But at the same time, if your expenses are irrelevant or something exaggerated then you may get notice also.

  64. Sir, which itr to file for salary (having from 16 issued by company)+ commission income from another company…. rgds mukesh

  65. Hello Sir,

    I was working in a company since last 7 years, few month ago i have changed my job and joined another company. I got some amount as a Gratuity from last company. Please let me know which ITR form i should fill and under which section i should show the Gratuity amount.

    • Rajesh-Gratuity will be treated as salary. Hence, you have to use ITR1.

      • Hi Basavaraj

        Thanks for quick respond.

        If i have to go for ITR 1, Please let me know under which section, i should show the Gratuity exemptions.

        I read somewhere that if your exempt income is more then 5000, you should go for ITR 2/ITR2a,
        Is that Gratuity not counted in exempted income.

        • Rajesh-The exemtpion of Rs.5,000 is for agriculture income but not for Gratuity.

          • Alright!

            If i have to go for ITR 1, Please let me know under which section, i should show the Gratuity exemptions.

  66. Hi Basavaraj,

    I am on a foreign deputation since Jun-2014. There was a TDS deducted by employer on my salary for 2 months (Apr-2014 and May-2014), the 2 months when I was working from India. I also have a foreign bank account in US and EUROPE (my current work country). Which ITR shall I file to claim the refund of TDS that was deducted on 2 months salary.

    Thanks,
    Vikas

    • Vikas-It is Indian income and hence you have to use ITR1.

  67. Sir, I’m a salaried employee and having agricultural income of more than 1 lakhs. Please advise which form should I use.

  68. Hi,

    I am a pensioner. i have some saving in fixed deposit and the bank had already done TDS for this amount. On filing my return it automatically captures under in Sch TDS (2). should i have to reflect this Sch TDS(2). kindly clarify

  69. Dear Sir

    I have received Salary from my office , and Commission received also other company . TDS deduct 94H on commission @10% . So kindly tell me which type ITR file ? Like 1,2,3 etc

  70. Dear sir, I am Lic Agent, my commission for the year 2014-15 is rs 240,000/, and my income for 10-11 was 136000/- 11-12 was 152000/- and for 12-13 was – 189000/- – please tell me am i required fill P&L , & Balance sheet in ITR4 in detail
    Thanks sir in advance

  71. Hello Sir

    I am full time employee of an engineering firm for last 8 years. Last Oct-Dec 2014 i have worked as an insurance agent for oriental insurance and earned total of Rs.2700 as agent commission. I do not have form-16 from the insurance company.

    Since i am not interested to do this business anymore, i have requested for a cancellation of license as well.
    Please guide me, i would like to know in which format i must file. Is it ITR1 or ITR4?
    Since tax is not deducted by insurance company as informed, what should i do? If it has to be paid from my side,how shall i proceed.

    Please help me asap

    Regards
    Nidhin

  72. Sir,

    I am working as a Guest teacher in a school. Payments received after deducting TDS under 194J @ 10%.

    1. Can I file ITR-1? inspite of the fact that the TDS is deducted under 194J.
    2. what about ITR-4s – since teaching is NOT specified in the inclusive list of “Professional Services” , is it okay that ITR -4s can be used (instead of ITR 4).

  73. i am working in a govt department as a lab tecnision on contract basis. This year My TDS deducted under section 192. Last 5 Years my TDS deducted under section 194j. which ITR i fill this year. If some other income like bank fd interest are also i got this FY2014-15

  74. am lic agent my annual commission is 65000 is whether maintained books of a/c or not

  75. we have opened a beauty parlor & boutique. which ITR to be used to file returns.

  76. dear sir

    i am working for a private co and i get salary as a professional on which tds under 194j is deducted i do not have any balance sheet nor p/l statementas ia am a simple employee which itr form do i fill ITR 1; ITR4 or ITR 4S

    • Avril-If it is professional service then ITR4.

  77. Sir in itr 1 where to show tution fees which is exempt ?

    • Yashpal-You have to show that under Sec.80C.

  78. Sir, I show Rs 48000/- but on computation page it shows that income is less than 20 lakh , hence is not comes under exemption. so please clear the same.

  79. Sir, I am a Post office Agent and earned the commission this year Rs. 350000/-. May i deduct the expenses from earning and how much (maximum).

    • Saleem-Yes, you can show the business expenses.

  80. sir
    i have income from salery and agriculture. which form used for ITR

  81. Can u pls suggest which ITR to file for Income from salary and income from LIC commision… Confused between ITR 4 and ITR4S

      • but ITR4 is not available on the site…pls suggest

  82. I’m a doctor by profession and working as consultant in a private company. I’m getting fixed remuneration from the company after deduction of 10% as TDS every month. My gross receiving are about 13 lakhs annually including TDS amount deducted. In which ITR form should i file my return. is it essential or mandatory to maintain account books, a profit loss account or balance sheet by my side if I’m claiming refund of TDS.or how i can ascertain my expenditures and deduction if i follow the option of non maintenance of account books. Request you to kindly guide me.

    • Anand-It is ITR4. You can show the business or profession expenditure. Yes, your profession must maintain the book of accounts (irrespective of income).

  83. I brought the Flat under construction in 2006 and go registered in 2015. . As the Property booked in 2006 and registry done in Jan 2015 and sold in April 2015 to pay my home loan of other house .Home Loan taken in Jan 2015 for new house repaid in July 2015 after sell the flat.Will it attract CG if yes which Index year.

    • Manoj-It is a date of allotment i.e 2006 is considered as an acquisition date. Hence, indexation of 2006 will be applicable.

  84. hi

    sir,

    i’m a bank daily collection agent. every month i got my commission by cutting TDS.
    now which income tax return form to be fill?

    regards
    Adinath

    • Adinath-If it is based on commission then ITR4.

  85. hi Basu……….i have 3 incomes….namely Salary , LIC commission and income from Shares…………………

    which return i need to file this year…

    best regards,

    Rajesh
    9872289049

  86. Hi sir
    im not able to find form ITR 4 for TDS return. I was a contract emp. And have form 16 A for apr14 to may 14 (ay 2015-2016 ) i have heard that due date for )filing is extended till 31-08-2015 is that correct??

    which form should i download? and can you also please guide me on how to fill the form and the procedure after that?

    Thanks in advance

    • You need to fill ITR-4, as of now its not available on ITR website, but it will be available by 20th Aug15.
      I am also waiting for this as i m also a retainer employee.

  87. I am working on retainer ship and 10% of salary got deducted every month. for that my company has issued me form 16A. as per your previous post i should use form 4 to fill my return, but i think IT department has brought some changes in forms and i am not able to find form 4 on incometaxindiaefiling.gov.in website.

    please help

      • Sir, I think ITR 4S is for presuming income which is available to only eligible business under section 44AD. not for the professional income.

        Please correct if i m wrong.

  88. My Father in law retired from Pvt Company, but Company appointed again on Contract basis to him , so which ITR Form Use by him

  89. Hi,

    I am not getting the difference between traders and investors.I am a salaried employee and I invest in stocks for last 6 months.I wanted to know which ITR form is suitable for me.

    Thanks In advance

  90. Hello,
    I have received lic maturity payment with 2% tax deducted as TDS. When filing IT returns where do I enter the income for this. I’m salaried and use itr 1 . I think I don’t have to pay tax nor get refund but I am unable to mention details in itr 1. Do I have to enter maturity amount receivable minus premium paid under income from other sources and pay remainIng tax as per my tax slab (30%)

  91. Sir,i am working in a private cbse school as a pgt teacher.from my salary 10% TDS is deducted every month. I have filed form no.itr 1 for the refund of my tds.did I file the correct one or it will be cancelled.if so then what should I do now.kindly reply as early as possible. Thanx.

    • Hasrat-You did it correctly. Now wait for the refund if you have any.

  92. my dad has given his commercial building to the Bank for the lease. So which form should be file to return TDS. ITR1 or ITR4S?
    Please…

      • Thank you sir… you are doing nice help…

  93. I have 2 queries

    1. my dad gets pension and is also a LIC agent so gets income from commission,
    which form should he use.

    2. my mom is post office agent and gets commission from it and also gets income form renting a house which form should she use.

  94. sir our accountent gives us FORM 16A as a proof of TDS deducted(which he filed quarterly).
    so please tell which itr should I go for finally??
    my basic query was-( sir I work under Nrhm as
    a
    doctor on contraual
    basis..and I get 30000 fix
    per month as per my
    contract.they also deduct
    10% tds I.e.3000.
    I have no
    house,property..only
    have
    some FD n saving bank
    accounts,in which
    interest
    is 4000 total.
    please tell me which itr
    form should I fill for this
    year??)

  95. Hello,
    I have taken a break from job after 10 yrs and left my job 1.5 yrs back and there was no income from salary in FY2014-15. I am also paying home loan and the interest on home loan is around 1 lakh. Which ITR form should I fill this time. Whether it is required this time for my case. If yes, whether I should mention the loan interest under sec12. Waiting for your response. I have filed ITR for the last 11 yrs.
    Thanks & Regards
    Vikram

    • ….contd.
      just to add I had “no income from other sources” as well in FY2014-15

    • Vikram-If there is no income then no need to file IT return.

  96. I have salary for 4 months-no TDS deducted.

    During next 8 months i had two sorces: 1) salary for which 10% TDS deducted and 2)professional fees where i worked on contract basis-10% TDS deducted here also.
    which form should i fill?

  97. Dear Sir,

    I worked in company on contract basis so they deduct 10% of payment(14000 pm) but from 1st feb 2015 they hired me as employee,

    they have given form 16A till JAN-2015

    no tax is deduct in feb

    which Form should i fiil

    Thanks in advance

  98. sir I work under Nrhm as a
    doctor on contraual basis..and I get 30000 fix per month as per my contract.they also deduct 10% tds I.e.3000.
    I have no
    house,property..only have
    some FD n saving bank
    accounts,in which interest
    is 4000 total.
    please tell me which itr
    form should I fill for this
    year??

  99. Sir,
    Please be intimated that I am 56 year old person and earlier I was salaried person throughout my life and have filed necessary ITR form regularly till Assessment year 2014-15.

    But during the last financial year 2014-15, I was not employed any where, hence having no salary Income during the year. so to meet my family daily expenses, I have no option than to rent out most of the portion of my house to many students on room sharing basis and earned the rental Income around Rs 162000 during the financial year, 2014-15.
    Please note that during the year my Saving Bank Interest income was also less than Rs.1000.

    So, under the above circumstances, please let me know which ITR form, should I file for the assessment year 2015-16 to keep continue its filing and oblige me.

    Thanks & regards.
    Chandra Mohan Gupta
    Mob: 9782479654

      • Sir,
        Thanks for immediate reply.
        Best regards.
        CM Gupta

  100. i am Post office recurring saving ac agent get commission on the same and TDS is deducted which ITR form is to be filled.

      • in which proffesion should categories post office agent and where should I fill my income amount.also wanted to know about tds amount refund for ay 2013-14.

        • Chintan-You have to use ITR4. Your’s is business income.

  101. Sir,
    I am a salaried person working in a PSU. In F.Y. 2014-15 I had received an amount of Rs. 9781/- only as an interest of my deposited amount in PPF account. What ITR should I fill for F.Y. 2014-15?

    Regards,

    Ritam.

      • Thank You Sir.

  102. Sir, I have earned stipend during my internship. Tax was deducted on the stipend by treating me as providing professional services to the company. So for filing the returns which form I should fill ?

    Regards
    Atul Kumar

  103. dear sir,

    i am a salaried person. i got Rs.160000/- p.a. & also get lic commission for Rs.23000/- FD intrest 12000/- which itr i file for income tax filing.

    thanking you,

    nilesh

  104. Dear sir,

    I am teaching tution classes at my home and now i want to file it return so itr form i should have to file ?

      • I am a research student i get stipend and nothing is deducted from it except 200/- professional tax. so i guess i have to file nil return so for that which form i should fill and please provide its link for e-filing.

        • Chaitanya-Professional tax is different than the income tax which you have to pay on your income.

  105. I am individual earning pension income and doing online trading in shares & commodities. What is the ITR No. I have to use to file my return for AY 2015-16 and where I have to show my loss in my trading in shares & commodities?

  106. Hi,

    I am a salaried person and I had LTCG in equities last FY.
    Please advise which ITR form should I use?

    Thanks!
    Arman

      • Thank you sir!

  107. I am a Salaried person and also have income from Bank FD’s. No other source of income.

    But now I want to club my Wife’s(house wife) Income from bank FD’s with my Income.

    Which itr form should I need to use itr1 or itr2A for efiling my return??

    Please guide.
    Regards
    Suneet

      • Thanks for the reply.

        Is there any specific row/column in iTR1 where I can include this Clubbing Income?. I know this will be added in Other Income.
        But how the IT people will come to know that I have clubbed the income in my iTR1.

  108. Sir
    I am teaching in govt university department as assistant professor.
    Apart form salary ,I have done other other teaching assignments also (may be called professional income).
    For which form , I should go for in AY 15-16.
    Thanks

  109. In FY 2014-15, I have 6 months income as salary, for which I have received salary certificate from employer and no TDS deducted.
    In next 6 months I have earned as professional fees, straight 10% TDS is Deducted u/s 194J by the employer. I have form 16A for this income.

    I have some other income through FD and savings account interest.

    Which ITR form should I use to claim return ??

    Kindly help.

    • Amit-If in second earning there is no relation of employer and employee then it is treated as professional income and hence use ITR4.

      • In 2nd income I was treated as employee on contract and I used to get income in terms of stipend. So isn’t there any relation between the employer and me?

  110. Dear sir, i have Income only from home tut ions that too Off and ON. Which income tax form should be used for filing returns

  111. Dear Sir,

    I have pension and interest income, no income from capital gain or house property. However, I am an occasional free lance column writer for dailies for which I receive payment. I also receive an annual royalty for an academic book. But I never had accounts books for incomes from columns and royalty. I simply declared these incomes in my returns earlier.Can you please tell me which ITR form I should use for AY 15-16?

    Regards.

    Dipanjan

  112. Sir, For LIC agents ITR-4 was used last year, now for AY 2016-16 ITR-4 is not available for download. What to do & which is the other substitute suitable form in place of ITR-4 for sole income of LIC Agents commision

  113. 1 of my friend want to fil back return but he is doing a trading in stock how can he file back . Pls let us knw . He is a salary person too.

  114. Dear Basa,

    My wife is an LIC agent and all her earning is from agents Commission. Which form should I fill for tax returns and how can i get the tax claim back.

    Thank you

  115. Dear Mr. Basavaraj,

    My Gross Income was Rs. 101000.00 for the financial year 2013-2014 which details are as under:

    1. Family Pension @ Rs. 1750 x 12 = 21000
    2. Interest on Fixed Deposit = 80000

    Please let me know under which section do i need to show pension amount in itr2 for E-filing for the Assessment Year 2014 – 2015.

    Thanks & Regards,

    Dilip Singh

    • Dilip-Pension is treated as your salary income and interest as a Income from Other Source.

  116. Sir, recently i recd. IT notice to file return for AY 2014-15 (FY 2013-14) .but from2011 to March 2014 i was in singapore . I wrked in india from April 2014 to March 2015 and went to singapore again,and working there. My question is how i can file return for FY 2013-14,when i was not in india?

    • Kashik-Whether you went there from Indian company assignment?

  117. Sir,

    I having home tuition income and i have a stationary shop. which itr form should i filled to show my income. earliest date of filling itr ay 2015-16. In which u/s i can take rebate for house rent.

  118. 1. I am having income giving home tutions. I have to file ITR4 for this income.
    Which code in nature of business section should I select for this.
    2. I downloaded the ITR4 form excel sheet from income tax india website. There are many worksheets in this file. For my income which sheets do I need to fill.
    Please help.

    Regards
    Vineet Sehrawat

    • Vineet-All can’t be explained here. If you have confusion then better to take help of tax expert of your area.

  119. Sir, I am Nifty future trader ( intraday and for week ). now I make loss, which form should I opt for e-filing ? Can I file nil return ? please reply. Thanks.

  120. I am employee in a corporate hospital.I am not salaried but it is paid as professional fees with 10 % deduction of TDS. Which ITR form no. should I fill?

  121. Sir,

    i am a business man i have idea co. agency my gross profit in loss but due to commission my net profit is positive which ITR i filed

  122. sir
    i am a transport agent .i hire heavy vehicles on commission and i also own 3 trucks in partnership but trucks are registered on my partner’s name. now how shall i maintain to file itr .
    i dont have business on my name but i am a investing partner .

    • Gurpreet-I am not an expert in business taxation.

  123. Dear Basavaraj,

    Since last year I have been working as a Business consultant in India for a foreign company and I am paid retainer fee in $ (USD), there are few quiries regarding Income tax:
    1. Form to be used – ITR4
    2. Nature of business – What code should I select from (Instructions No. 7(i))
    3. Since I work from my own home can I claim some rent towards its usage.
    4. My wife helps me in my job, can I claim some deductions towards her salary.

    Thanks,
    Gurdev Saini

  124. Sir,

    Its nice to see that you are taking the pains to reply to each and every1’s query. So good of U.

    My query is that I am receiving professional fees (Consequently TDS u/s 194J @ 10% deducted) for contract with

    my co. Hence I am supposed to file ITR 4. Right?????

    But while filing ITR 4 – i am not able to claim my drawings from my capital account under deductions – drawings

    being in the nature of house hold expenses – so kindly guide about the same.

    The regular expenses are set off against the fees in the Income $ Expenditure acct. Right???

    My other sources of income are interest from S. B. a/c and FD’s sometimes only.

    Kindly suggest the course of action.

    Thanks $ Regards,

    Neela

    [email protected]

    • Neela-How can you claim household expenses? It is not possible. Rest of things said by you are correct.

  125. I have take a TOP up Loan of 15 lacs. I have paid 8 lacs through check for LET OUT PROPERTIES.

    Can I get benifit of interest of top up loan? for which i have paid 8 lacs for LET out ptoperties?

    Under which column I can get benifit?

    My second problem is….

    Now we pay service tax on LIC premium….and PLI premium….

    The whole amount (Premium +service tax..) can be shown for dedction for IT ?

    • Vijay-Under Sec.24 of Income tax you claim deduction of interest paid. You need to show the full amount not the break up (Premium+Service Tax).

      • Hi,

        When I try to file the online ITR1 I cant see Sec 24 at all to fill the interest charged on housing loan? Will that be under gain from housing property and be negative. Please let me know
        Also can we claim 80 EE then but then there will be two deductions for same interest paid.

        • Rajesh-You find it under deduction. Sec.80EE conditions are as below.
          Purchaser should be first time buyer. i.e. he has never purchased any house and now he is going to purchase a house. Value of the house should not more than 40 lakh. Loan taken by Individual for the purpose of buy a house should not be more than 25 lakh. On the date of sanction of loan individual does not have any own residential house property. Loan for this purpose taken by individual should be from the Financial Institution or Housing Finance Company. For this purpose, loan should be sanctioned between 01.04.13 to 31.03.14.
          Whether you eligible for these conditions?

  126. Hi Mr. Basavaraj Tonagatti,

    I’m Indian Citizen and In FY 2014-15 I worked in Singapore in a Singapore Based Organization and my Salary is in SGD and I’m also filling Tax over here in Singapore. Sometime I do remit some of my savings from SG Account to my Indian Savings Account.

    I don’t currently any income in India other than few Quarterly interests in some Fixed Deposits. But the amount of that in a year is not above minimum Tax Slab.

    Apart from this, in this FY, I did some Stock Trading in BSE/NSE, with F&O, margin etc… [As a Trader and not as Investor, viz. transaction squared of with in a Year] and my calculation so far suggest I had net lose (-ve gain) in total of all such stock transaction.

    Also just for information, I’d like to mention that if I Log in to eFilling Website, in ‘Quick e-File ITR’ menu > ITR form Name drop down section I’m only getting choice of either ITR-1 or ITR4S

    Could you please advise how should I proceed for filling ITR and if I need to mention loses in Short Term Capital and if yes then in which section.

    Thanks in Advance….

    • Avik-You have too many confusions. Hence request you to file return with the help of tax expert.

  127. Sir , I teach in a coaching center. I collect fees from the students and pay monthly to the coaching owner. My question is
    1. Is my income is treated as profession or business?
    2. Which ITR form has to be submitted?
    Thanks

    • Raj-When you give all the money to owner of coaching then how you earn?

      • Sir, I collect fees 15000 per month from the students. keep them with me and I pay the coaching owner 1500 Rs per month . remaining money is my income

        • Raj-My question is, whether you retain that earning as salary from the coaching owner or professional fee?

  128. I work as a consultant. Under
    1. what form should I file Income Tax.
    2. Suppose, my friend repays me monthly for a loan, should I show that as well?
    3. What are the exemptions for consultants – e.g. tel bills, office equip and slab?

    • SPH-You need to use ITR4. Loan repayment depends on what was agreement between you and your friend. Exemptions depend on type of consultancy you run.

  129. i have recently started share trading i want to know what will be income tax structure for me if my over all income for current financial year is under financial year tax slab
    suppose my fy-14-15 earning is 250000 do i need to pay short term capital gain tax
    even if my earning is under respective tax slab please tell me.
    what if i am earning money from
    1> delivery or intraday share trading.
    2> what kind of ITR i Have to fill
    3> what kind of income type it will be called
    and where i have to show this income in ITR form

  130. Dear Sir,

    I am a tax payer professional working in a private organization. My wife, who is non working house wife, has received a sizable amount thro’ cheque as gift from her mother, who is a tax payer. Further my wife has already some investment in Bank and post office FD thro’ her own savings out of the cash I am giving for house hold expenses, occasional cash gifts from her father / mother etc. Till now she has not filed income tax returns for the interest earned.

    My question is, any gift tax is applicable. If she invests this amount again in bank FD, should she start filing income tax returns separately showing all the interest income earned (existing + new FD), even though it will be well under IT ceiling. Which form she should use for filing income tax returns.

    Weather clubbing provision is applicable in this case or her income can be treated separate and income tax returns can be filed separately.

    Regards

    • Prakash-For your wife gift is from mother. Hence it is not taxable. But it must be in written like in a simple gift deed. Yes once she start to earn from this gift amount then it will be taxable in your wife’s hand. Source of income must be important to club. So first understand her income then decide clubbing applies or not.

  131. I have filled original income tax return ITR 4 without demanding TDS REFUND for AY 2013-14 at regular time period now i have to demand that refund which ITR should i have to filled…pls help me..

  132. sir i am a physiotherapist and works for charitable organisation and do home visits. which form should i use to file itr?
    thanks

      • thanks sir

  133. Hi Sir,

    I have worked in 2 companies for the FY 2014-2015, how should I file income tax for this?
    Is there any different procedure other than the normal filings?

    Thanks,
    Vinay

    • Vinay-No different procedure. You just need to file the return by showing both the income.

      • Thanks Basavraj! 🙂

  134. My father is a govt.employee. and he is also connected with network marketing and his income genrate from salary and commission.and I heard that any govt. Employee can’t do any other work.so plz give me suggestions…

    • Mamta-How your father proceeded with this business in his name when he know that his employer not allow to do it. I suggest him to stop this business if job is more important.

    • Sir ..if my father will not update his account no. and don’t redeem his income received from network marketing …..then any problem create for his job or not…

      • Mamta-Still I feel it creates problem. Hence before noticing better to stop this business. Instead let him do this business in your mother or someone else name.

  135. Hi!

    This year my income is only the PF refund that I received in this year after resigning after 9 years of continuous service. While I resigned in the previous financial year, I withdrew my PF in the current FY. I understand that the income is tax exempted but I need to declare the same in my IT Returns.

    How should I account for my income (PF Refund only) in the current FY? Which form should I use and how should I show my income?

    Thanks,

    Sanjay

  136. Hello Sir,

    I am kuldeep. I work at government projects as a contract basis and my salary is 28000/month. I also work online. So i got income from my salary + my earning from my online business. I am software engineer so i deliver website/software services to my foreign clients. Earning from online work vary upto 3lakh+ and income from salary is fixed. So i want to know what form i have to fill for my both account and how much tax i have to pay. I also live on rent @8000/month and not having any other plan like LIC etc.

    So could you please help me by knowing about the ITR and what conditions are applicable for me for my both salary and individual online earning.

    Thanks,
    Kuldeep

    • Kuldeep-Forms are listed above. How much taxation? It depends on your income. How can I say without knowing the complete picture?

      • Thanks Raj for your quick reply. My earning is 5lakh/year. And i pay around 1lakh rent per year.

  137. Basavaraj Tonagatti,

    I am an NRI and bought a residential investment property in year 2011 and was under construction till year 2014. I took the NRI Home Loan in year 2011 for the construction of the property and paying pre-emi and emi interest components till date. I am interested to know about how to claim the Home Loan interest for the AY 2012-13, 2013-14 and 2014-15 in the Indian Tax Return.

    Awaiting for your reply here or to my email id: [email protected].

    Regards,
    Naveen

    • Raj-Please consult your tax expert on the same. Because I am not aware about you fully (income and expenses and how your assets are placed).

  138. Dear Sir,

    I am a LIC Agent and get my payment as LIC Commission, So With Which Form I have to file return .

    Plz Guide .

  139. my sister has tution income income of rs. 219000 which form i choose to efile

    • Narender-It is already discussed in below comments. Please go through it.

  140. Hi,

    I have income from Salary and Agriculture, Could you please tell me which income tax return Form i need to use it

    Thanks
    Senthil

    • Senthil-It is already mentioned above. Check it.

      • Hi,… My agriculture income is more than 5ok… shall i use ITR2.

        • Senthil-Please go through below comments. It is already discussed.

  141. Dear Sir,
    I am having income from home tuition. my income is 1.5 lac per year. which itr form i should fill. I want to fill itr for previous 3 years. so what is the procedure.

    • Alka-It is already discussed in below comments. Please go through the comments.

  142. sir, I started trading in equity and F&O from September 2013. I did not know that I have to file a IT return for losses. So I missed filing loss in 2012 to 2013 . in this current year from 1st April 2014 to November 21 I made a loss of 1,09,320 Rs . can u please guide me how to fill form . can I do it on my own or CA is compulsory ?

  143. Thanks for response. Many experts say that even a normal salaried person gets more than 5000 rs as allowances like travel al, conveyance al, HRA , stitching al, which r exempt from tax . so most of the people comes under ITR 2 .

    • Krishnakant-Please cross check yourself the definition of exempted income to the salary allowance you are pointing. I think you confused yourself. If you are not understanding it then better to consult your nearer tax expert.

  144. Sir , I am a salaried person and working in Maharashtra and living in ‘Rented’ house . sir I want to e fill my belated IT return .My query is which form should be used if my exempted income which is TA and CA is 18000. secondly what I should fill up in the box ‘Resident’ or ‘Resident but ordinary’. Sir I am the resident of Bihar.

      • Sir. Kindly explain why not ITR 2. In some blogs I read if exempted income is more than 5000 (which includes TA , CA and HRA) require to fill up ITR 2

        • Krishnakant-I am not aware about your exempted income. So if the case is so then you can use ITR 2. But not forget to check once again the said deductions will form part of it or not.

  145. Hi,

    I am a housewife. I am earning money by doing Tailoring (part time) and giving tuition (part time). what ITR should be used. Also can i file returns for last 3 years now? My earning didn’t reach more than 1,50,000/- any year.

    -Sowmya

    • Sowmya-Both are considered as business income. So use the forms accordingly which mentioned above. If your earnings are less than specified minimum limit then it is up to you either to file or not.

  146. i have a monthly income from agriculture of rs.25 lacs. i want to file itr as banks ask for itr copies for huge loan requirements. people say me i do not have to pay tax because agriculture income is exempted. however if i want to file itr how can i file.

  147. An assessee was audited U/s 44AB for AY 13-14. He is a transporter. Have 9 heavy vehicle. For AY 14-15 the turnover is less than Rs 1 crore. Can he file return of income under U/s 44AE. He has rental income from one property. Which form shall he file his return of income.

    • Inderjit-I am not an expert related to business income. So I can’t guide you.

      • Thanks Sir

  148. Hi, While updating details in the ITR-2, I am supposed to make additional tax payment. The same was as I changed my job and didn’t declare my previous co’s salary. Request you to please guide which form am I supposed to fill for making the tax payment, is it Challan No / ITNS 280 or 281.

    If form 280 what should be the payment type, is it Self Assessment Tax or Tax on regular assessment.

    Looking forward to your response. Thanks in advance.

    Regards
    Sheetal

    • Sheetal-So many confusions for you. Suggest you to contact any tax expert of your area to process further.

  149. hi…

    I am salaried person And have other part time work on commission also and got the tds certificate of form 16A u/s 194H. Which itr is suitable for me ITR1 OR ITR4?

  150. I am a student and doing insurance business, i have to file my income tax return year of assessment year 2013-14 and 2014-15 to get back the tds amount.
    which form should i fill online.

      • But Sir, while filing return for AY 2014-15, we can only visualise two forms i.e., ITR 1 or ITR 4S.. So what should we do…..? Which ITR ?

        • Shailesh-I don’t think so. Check once again.

  151. Whether exemption of Rs. 2 lakhs for house loan (interest) is applicable to the person who has taken house loan in the financial year 2014-15 (A/Y 15-16) OR applicable to all the other personnel who had taken house loan in the previous financial years like 2012-13 and 2013-14 etc.

    • Dogra-Exemption will be for FY 2014-15 irrespective of home loan you have taken.

  152. Hi Sir,

    I am a government employee (Indian Army). My salary include all allowance (like transport allowance) as shown in form 16 (not exempted). How can I claim exemptions for these and which ITR form should I file and where to mention these exemptions.

    Thanks,
    Vinod

    • Vinod-You need to use ITR1. If unable to understand how to calculate then take help of expert.

      • Hi Sir,

        Thank you for your valuable response. I have query, suppose my income under head salary in form 16 is 300000 ( including transport allowance ) and lets say my annual transport allowance is 19000 and I want to claim this exemption. Should I mention the income from salary as 300000-19000 = 281000 in the ITR-1 form. And where I mention the exemption for transport allowance.

        • Vinod-Please check whether the transport allowance to what extent it is exempted.

          • In my pay slip its 1600/- PM. But I think as per income tax dept. only Rs 800/- PM is exempted.

  153. Dear Mr. Basavaraj,

    My Gross Income was Rs. 269479.64 for the financial year 2013-2014 which details are as under:

    1. Family Pension @ Rs. 1803.00 x 12 = 21636.00
    2. Accrued Interest from Savings Account = 2457.00
    3. Interest on Fixed Deposit (Growth & MIS) = 244514.64
    4. Dividend Received from Equity = 872.00

    Apart from above, I do Share Trading.

    Please let me know which ITR form I have to use for E-filing for the Assessment Year 2014 – 2015.

    Thanks & Regards,

    Swapan Banerjee

    • Swapan-Family pension in the sense do you have HUF setting?

  154. I am a salaried employee. I have filed ITR – 1 on time. After filing returns, recently, I have received a ledger document(in MS Excel form) from my broker, containing the loss that I incurred in Options and shares trading. Now, I want to file revised returns to include this loss. Please clarify below questions.

    How I can show this loss in revised returns?

    Is this ledger document enough for me as a proof for future references?

    • Shiva-First understand whether you did that as a trader or investor? If you did those as a trader then it will be considered as business loss otherwise capital loss. Also remember that such loss can’t be set off against your salary income. Business loss need to be set off against all source of income except salary income. Capital loss-LTCG can be set off against LTCG only but STCG can be set off against STCG or LTCG (Not to other source of income).

  155. i have not filled my ITR-I till now. Can i file the ITR now and what should i select in the section “How the return is filed” i.e 139(1), 139(4) etc?

    • Satyam-You can still file the return without any penalty.

  156. sir,
    I am a sahara agent having income from commission but i m not able to find the column in ITR 4 to indicate my income. so kindly help me out.

    • Mehtab-You need to use ITR4 only. If you have doubt then consult any tax consultant.

  157. If i have income from tuition fees only(part time) can i fill ITR-1 and put it in other sources? Because it is specifically mentioned on Income tax site that ITR 1 is only when you have income from interest or family pension under the head income from other sources

    • Prince-Yes you can do so. They have just excluded two income for return filing who use this form but not the income you are claiming. So go ahead.

      • Thank you sir. It was a great help to me as well

  158. MY TOTAL TAX IS 800000 AND MY PPF IS 65000, HOW MUCH IS EXEMPT INCOME AND WHICH ITR UNDER IT COM ES . I M GOVT EMPLOYEE

    • Sahil-You can use ITR1. Because anyhow PPF is exempt income and no need to show yearly interest accrual.

  159. Q no. 1- If a person have received income from a commercial property , in which head of which ITR return will be shown.
    Q no.2 – If source of income is tution ( part time at home ) ( to educate students ) , in which head of which ITR return will be shown.

    • Gupta-Income from commercial property falls under the income head of “Income from House Property”. If your earning from tution is part time then you can show it under the income head of “Income from Other Source”.

      • Q. Total Income is less than Rs. 1.00 lac ( one lac) in following heads including Bank’ interest and no other income except following & Bank Interest .Please tell me ITR return Form no. and last date of submission of filing return for A.Y. 2014-15.

        Q no. 1- If a person have received income from a commercial property , in which head of which ITR return will be shown.
        Q no.2 – If source of income is tution ( part time at home ) ( to educate students ) , in which head of which ITR return will be shown.

        Reply
        Basavaraj Tonagatti says
        August 4, 2014 at 7:14 PM

        Gupta-Income from commercial property falls under the income head of “Income from House Property”. If your earning from tution is part time then you can show it under the income head of “Income from

        • Gupta-You can use ITR1. Because you have income from one house property and income from other source. Last date to file the income return is today i.e 5th August 2014.

  160. Dear Basavaraj,
    First i appreciate for all the guidance you are providing to everybody. Now coming to my issue, i am a salaried employee with only income from salary and my Gross total income is below the slab rate. But my Form 16 shows that the EXEMPT INCOME u/s 10 is greater than Rs 63600/-( Transport all 9600, Travel all. 30000 Uniform all. 24000)., which ITR form should i go for?

    • Jayesh-If your exempt income is more than Rs.5,000 then use ITR2.

  161. I am a salaried employee, part-time LIC agent and also stock trader. Last year I have received Rs. 81755 towards LIC commission and expediture Rs. 21650. Also I have loss of Rs. 131042 in F&O and Rs. 1374 as short time capital loss from equity. How can I show LIC commission? Should it be ‘Income from Other Sources’?. Do the F&O loss is set-off after income from LIC agency. How much F&O loss I can carry forward?

    • Raju-You need to show your agency commission under head of business. Also your loss in f&o are treated as business loss. STCL is for equity-Whether you invested in stocks as trader or investor?

  162. Hi, I checked many data sites. I found ITR1 will be used if I am salaried & have only one home where I am staying now and paying EMI. Getting some money from bank saving interest

    Query 1: How much I can avail rebate on Interest, as I have paid for home in Dec’12 but gets possession in April’13. Also get registered with home in June’13. So it will be 1 Lakh + 1.5 Lakh or just 1.5 Lakh.

    Query 2: Where to fill in rebate information in ITR1 form.

    I seriously need your help, as today is last day. Please help!

    • Hanit-Interest will be actual or Rs.1.5 lakh, whichever is higher. It is specifically mentioned in the form. Please go through it.

  163. I have 2 questions sir !

    1. I have income from sell of shares (share market). Which ITR form should I use ?
    2. I have income from salary and sell of shares (share market), then which ITR form should be used ?

    • Gangadhar-Whether those sell of shares are as investor or trader? Also whether they will come under LTCG or STCG?

      • Sir,
        Sell/purchase of shares as trader, you can say. Short term basis (shares sell around 6 months of their purchase etc. not long term investment). Sell/purchase regulary not for very long period. This is on personal basis and not by making any firm. Pls reply on these basis.

        • Gangadhar-I myself confused with your lines. Can elaborate more about what your doubts?

  164. i have income from salary and professional fees as well. which ITR form do i file? please guide

      • I am having confision in my returns in efilling. I was an salaried employee from Apr13 to Aug 13. Subsequently, i was a technical consultant to one firm and getting monthly payment. Both the organisation paid some TDS. Now, which form to use for filling. I tried ITR4s but it looks basically for heavy vehicles owner etc. I dont have any firm ownership are so. What is the way out. Since, today is the last date, reply me ASAP.

        • Ramkumar-Whether that consultancy is like job or like freelancer? If it is like freelancer then you need to treat that as profession along with your normal job. Hence file with ITR4.

  165. I am repaying Home Loan and also staying in same home. Interest rate is more than 1.5 Lakh. Where to mention this while filling ITR, I am filling it online? Could I get reply soon, today is last date of filling the same.

    • Hanit-Home loan interest deduction will be under Sec.24B.

      • Hi, Sorry to say but I didnt find this section in ITR1 form. Could you describe more, I mean which page or which row number etc.

        My Old query:

        I am repaying Home Loan and also staying in same home. Interest rate is more than 1.5 Lakh. Where to mention this while filling ITR, I am filling it online? Could I get reply soon, today is last date of filling the same.

          • Seems I lost way … It seems ITR1 cant be used for this purpose, ITR2 will be used ? Am I Correct? if Yes, could you define where to do this

  166. hi sir ,
    I am salaried emp in IT firm.which ITR 1/2/3/4s return form i need to submit? plz reply ASAP. thx

    • Praveen-Please read above conditions. If you don’t have any other income than salary then use ITR1.

  167. I am partner in partneship firm. Our firm provides BPO services. I have no other income. Which ITR am I required to file? Also there are no profits this year as it was th first year. So i dont any income to show. Also which ITR will be filed for the Partnership[ Firm.

    • Ivneet-If you don’t have any income then why to file ITR?

  168. Hi,

    I am a salaried person and have taken a home loan and paying interest on that to the bank. The Flat is still under construction with the builder and possession is expected in June 2015. Please advise:

    If I have to make provision for the interest paid in the current year, in ITR 2 under CFL sheet (Carried Forward to future years) as this couldn’t be adjusted as possession is not there OR I just need to accumulate that amount (without mentioning that in the ITR2 in the current year) and can claim the adjustment for the entire amount in one go in the year when the possession would be provided?

    Your help and guidance on the above would be much appreciated.

    Thanks & Regards,
    Sanjay

  169. sir, i am salaried person and i have agriculture income too (60000 Rs). when i am e filing return online the form selection option only shows for ITR1 and ITR4s. which form should i select. if ITR2 is suitable for me then what should i do for e filing of ITR2 form?

  170. Dear sir,

    i m a senior citizen having income from insurance commission, pension and professional fees and interest on fd. which ITR i m supposed to use.?

  171. I am Salaried person & also part time lic agent i am confuse to file the ITR return form ITR-4 or ITR-4Sugam

    kindly suggest me which form I will filed urgent

    • YOU CAN USE ITR 2 ALSO. JUST SHOW YOUR INCOME AS OTHER SOURCES.

  172. Basavaraj,

    Few question regarding the ITR1 exception clause – “Income from Agriculture/exempt income in excess of Rs.5,000”:

    a) What constitutes “exempt income”?
    b) Should interest on savings bank (SB) account less than Rs. 10,000 (and hence not taxed) and interest on PPF account be considered as “exempt income”?
    c) What about PPF amount? If my income sources are only salary and interest on SB & PPF account, and my PPF contribution is 1 lakh (which is greater than Rs. 5000) should I use ITR1 or ITR2?

    Thanks.

    • Man-There is separate calculation for agriculture income. Exempt income constitute huge list. Please google it for the same. Yes savings bank interest less than Rs.10,000 is exempt under Sec.80TTA. You too can consider PPF interest as exempt. If your exempt income is more than Rs.5,000 then ITR2.

      • Thanks for the reply, Basavaraj.

        I wish our IT dept. simplifies the IT sections. They took a right step in mandating online filing and simplifying the returns filing. But they have now muddled the waters with this exempt income clause.

        Anyways, your pointer regarding PPF interest clarified things for me. It is ITR2 since my PPF interest is more than 5000/-

  173. i m a senior citizen having income from LIC as insurance commision, and professional income only..which ITR i suppose to use..? please reply early..

    • ok thank you sir..but actually i forget to write..i have also pension income and interest income on fd..so in total i have income from Pension+LIC insurance commission+professional fees+Interest on FD..then whether i require to file ITR-4 or ITR-4s or ITR-1..?? little bit confusion..

        • Sir,
          As per my knowledge, Sec. 44AD is not applicable on a person having income from coommission or brokerage or having any agency business..
          So, I think ITR 4S is not the right choice for person instead ITR 4 is the right choice

  174. I am a salaried person, I have 1 property and let out for rent at chennai, paying EMI. Currently staying in Mangalore paying rent (so income from other source property minus interest on home loan is eligible for Tax benefit?). Also let me know which ITR to use, ITR1 or ITR2?

    • Bharath-Whether you are getting HRA and how you are claiming that?

  175. I am a govrnment emloyee.i took home loan last year.my income is below 5laks..for showing home loan interest which ITR form should i fill?

  176. Dear Basavaraj,
    you have been amazing in answering queries of people – this is great. thanks for your help in advance i have three queries
    A) income from saving interest – should it be shown as other income in ITR 1 if the person has other salary income below 1,00,000?
    B) income from fixed deposit interest – should it be also shown as other income?
    C) is there a need to show income from dividend anywhere in ITR 1 or would one have to fill ITR 2 for it?
    rgds

    • Rohit-Yes interest income will be treated as “Income from Other Source”. What type of dividend it is?

  177. Dear Basu,

    I work for LIC(life insurance corporation of india) and they have given me only Form 16 Part A not Part B. So I am little bit confused which ITR form to use to e-file my returns? and can I file my return without PartB also?

    Thanks

  178. I am a senior citizen. My total income is as follows.
    Pension @1712*12 20544
    FD interest 125079
    STCG (Equity) 3687

    Total 149310

    My total income is below exemption limit of 2.5 lakhs. So if it is necessary to file return ? If yes which form to be filled ?

    • Vasudevan-It is not necessary but in future if someone asks for your proof of income then this IT Return will be useful. You can use ITR2.

  179. Hello

    I work for a private company that pays me monthly salary and deducts 10% of my salary every month. They provide a quarterly Form 16A. Please suggest which ITR form to use to e-file my returns? Does my income come under salary or profession..Please clarify.

    Thanks

    • Swati-Your income comes under salary and you can use ITR1.

  180. I am a salaried person with bank interest and income from mutual & equity short term investments.
    Which ITR form do I need to fill to file Income Tax Returns?

    • Shekhar-If your mutual fund and equity investments are like trader then you need to file ITR4, otherwise file ITR2.

  181. Does a housewife whose income from any other source is nil, and made a loss of 1 lac Rs on F&O trading, needs to file IT returns ? She trades F&O actively.
    Following 2 opposing points are causing confusion. Please clarify
    1) Her total income is below exemption limit of 2 lacs, so she should not have to file taxes
    2) Since F&O trading is classified as business income, and any business has to file tax irrespective of profits or losses, so a housewife who made a loss from F&O trading, will have to file taxes.

    • Raj-Filing will be advantage for her. Because she can set off her losses with other source of income (except salary). But the source of amount she bought for trading must be explainable. Otherwise it will create problem for her.

  182. Dear Basavaraj,
    First i appreciate for all the guidance you are providing to everybody. Now coming to my issue, i am a salaried employee with only income from salary and my Gross total income is below the slab rate. But my Form 16 shows that the EXEMPT INCOME u/s 10 is greater than Rs 5000/-, which ITR form should i go for?

  183. Hi,

    My name is Rajat Sharma. I am filling my Income Tax Return at the moment but have gotten very confused due to some reasons. I need your help.

    I am not working at the moment and left my job in 10th January-2014. In my last job, I worked for 1 year and 10 months from 30th April-2014 – till 10th January-2014 (KEC International Limited) and prior to this company I worked for General Electric and there also I worked for 1 Year and 10 months (from 14th July 2010 – till 20th April 2012).

    So the total working time for is less than 5 years.

    When I changed my Job from GE to KEC, I got my PF amount of GE (around INR 1.13 Lakhs) transferred to KEC PF account, so I did not have to pay any tax on this. But now when I left KEC, I applied for PF amount withdrawal and I received an amount of around INR 1.70 Lakhs, which was a total of my GE’s PF amount and KEC’s PF amount and a TDS of INR 4,655/- was deducted from my total PF amount to be received, which as per KEC officials, was only deducted from the PF amount earned during my working in KEC and no TDS was deducted from my PF amount from my working in GE.

    Now, when I checked my Form 26AS from Income Tax website, it shows 2 TDS deductions from me, one is the TDS deducted from my salary earnings during this year by KEC International Limited (TAN No. MUMK14211B) and second is the TDS deducted by KEC International Limited Provident Fund (TAN No. MUMK14909G), from the PF amount withdrawn by me.

    I have TDS certificates for both.

    Now I am confused what should I do and how should I fill my ITR?

    Q.1. Should I consider the entire PF amount (GE + KEC), while filing the ITR or should I consider only the amount earned in KEC?

    Q.2. Should I consider only my contribution to PF or should I include the employer’s contribution to the PF also in the ITR?

    Q.3. Can I add my PF amount with the salary amount of the year or should both the amount be shown separately and procedure for ITR should be as is for two Form-16s?

    Please help, I shall be highly thankful to you for your support. In case, you need any other information, please let me know.

    Thanks
    Rajat Sharma

    • Rajat-You have lot of confusions. But I will try to resolve it by providing a link about taxability of EPF. If you still have doubt then better to consult any tax expert of your area and get it done.

  184. I am a individual, having only salary income which is more than 5 lakh, one house where i am staying , taken housing loan in 2007, interest and principle both getting rebate, which ITR i have to use ?
    I planning to do online return file ,

  185. my gross salary-300603/-
    home loan interest-47248/-
    deduction-80 c- 900662/-
    sir i have already filled up ITR-I
    some person are told me u also fillup ITR-II
    give me suggestion about ITR-II

    • Amit-Don’t believe on any one. First check above conditions for both ITR 1 and 2. Then based on your income and eligibility conditions use the forms.

  186. Hi, Basavaraj,

    I am a home maker and earn some money through giving tutions to school students. Please clarify:

    1. Which Form I should use for filing return, ITR1 or ITR4S?
    2. Also clarify, if this service attracts Service Tax? If yes, then how to show the same in the return I will file?

    Thanks in advance for all your help and guidance.

    Regards,
    Namita

    • Namita-You need to use ITR4. But I am not sure about service tax applicability on your service. So contact your CA on the same.

  187. I am salaried single income. Lost money last year on shares. How to declare this loss so that my future profit is settled with this loss? I don’t see any head for this in ITR-1.

    • Deepak-First let me know whether you are investor or trader?

      • I am salaried person making small investments in shares. But it is mostly for short term gains.

        • Deepak-In that case that is treated as business income and you need to file in the ITR4.

  188. Dear Basavaraj Tonagatti,
    I need to fill tax. But i’m confusing with ITR1 and ITR4s. I’m a contract employee and every month they deducted 10% from my salary. And they have provided Form 16a also.
    Kindly please help on this.

  189. Dear Sir,
    I sold my only house in feb’14. I paid more than my long term capital gains to a new builder as my initial payment in July’14. Am a salaried person who has form16 from my company. Which form to fill and how do I show my capital gains transactions during filing?
    Appreciate your efforts is replying to each and every questions.

    • Vimal-You have salary income as well as LTCG. So use ITR2.

      • Thank you very much.

  190. Sir,
    i worked as a consultant for 8 month than 4 worked as a salaried employee . for initial 8 month TDS deducted by company . could i know which ITR should fill for ASS Year 2014-15.

  191. I am a salaried person, I have 2 property one is self occupied and for 2nd i did not receive possession yet (so no income from 2nd property). Which ITR to use, ITR1 or ITR2?

  192. Sir my total income from salary is Rs. 671013 and HRA=CONVEYANCE exemption u/s 10 is Rs.49839 as i am living in RENT.SO I FILLED

    1 Income from Salary / Pension (Ensure to fill Sch TDS1) 1 6,71,013
    2 Income from one House Property Let Out 2 -49,839

    is it correct or should i FILL 621174 in my income from salary and nothing in income from house property. please guide.

    • Sudhir-HRA is not income from house property. If you are not understanding all these things then better to take some expert help.

  193. Sir,

    I am working in health ministry totally on contract basis & getting consolidated income.
    For the same an outsourcing agency give us salary by cheque.
    The agency not giving us any Form 16 or 16A.
    My question is:-
    1- Which ITR should be used.
    2- Is my Income comes in Salary or it comes in profession.

    • Harshalli-You can use ITR4. No your income is not considered as salary instead it is professional income.

  194. Sir,
    I have filed ITR-1 regarding salary which contains other component like exemption for Conveyance allowance and HRA. I have no other source of income except saving bank interest. My conveyance and HRA allowance exemption exceeds Rs. 5000. Whether should I revise the return and file ITR-2.

    • Varun-If you already filed correctly then why once again?

      • Sir actually i have doubt regarding exempt income. We will consider HRA and Coveyance allowance under exempt income or not? And in my case both are exceeding Rs. 5000.

        • Varun-HRA exemption depends on how much rent you pay actually and it is separate calculation. Regarding conveyance allowance either Rs.800 per month or actual expenses you incurred (need to submit proof) will be exempt.

  195. I am working on contract with a software company as consultant and company has provided a Form 16 with Income as Rs 190000 and deducted 10% tax. Please let me know which ITR to be used for efiling.
    Also I see only ITR1 and ITR4S on efiling.
    Please help me with ITR form to be used.

    • Bipin-You consultation is treated as business income. So file with ITR4.

  196. Continuing from earlier comment…..

    Also, my company provides me with Form 16A for TDS, so which ITR form do I need to use?

    Thanks

  197. Hi..

    I work for a private company and am paid salary monthly, no other source of income, my company deducts TDS every quarter, I would like to know which ITR form I need to use?

    Thanks in advance.

  198. Sir

    pls clarify

    1) Iam working in private company

    2) Mean time i worked as a consultant

    3) All my payment recd by cheques

    4) Nobody deduct any TDS

    5) Can i hide consultancy income for my IT return

    6) Which ITR should i file

    Pls advice me

  199. Hi ,
    I am salaried person and has recently purchased a flat where my parents are living since my job is another city . now how can i claim tax benefits for expenses occurred during the stages
    1) 1.5 lac expense on agreement for house from builder to get home loan sanctioned in august 2013
    2) my home loan EMI started from Dec 2013 for part payment to builder since flat was under construction and loan was disbursed as per construction stages
    3) i got flat possession in June 2014 and had sale deed in June 2014

    these benefits were not declared to employer since it came after declaration and my advance tax deduction was started already , so now how can i claim for tax benefits and in which sections to fill these details during filing online return before 31 july 14

    expecting expert advice on the same .

    • Sarang-You can use ITR1. Regarding filling form based on your home loan requirement, please contact your CA or any local expert in tax matter who can come and do the return part physically.

  200. Hi Basu,
    I am salaried professional.I have 2 houses in my current city and native.Both are under home loan and self occupied.I am not earning any income through house rent.Which ITR form should i submit 1 or 2?
    Thanks in Advance
    Kumar

  201. Hi Basavaraj,

    Thanks for the details.

    I have received commission / brokerage, and my employer also provided me with Form 16 A Certificate.
    Please suggest which form should I used – ITR2/ ITR4?

    I want to file IT return only against commission received.

    Rohit

      • I am a salaried professional, I always use ITR-1 to file/e-file income tax. This year I booked a flat via broker and he paid me back some commision/brokerage and deducted TDS u/s 194H. I found out this TDS info from Form 26AS. So I have 2 TDS deductions 192(salary) & 194H. Though I have paid all my taxes and expecting no tax refund, Still I want file the returns correctly. I am not sure, which ITR form to be used in this scenario and where to report this Commission income.??

        • Cheitan-If it is mentioned as brokerage income for which TDS was done, then use ITR4.

          • Dear Basu,

            can you help to know where to report this Commission income??which field??

  202. Hi Basavaraj Tonagatti,
    1) I am a salaried person (income under section 192) and my salary is in 20% slab.
    2) In financial year 2013-2014, I have received an amount of 35000/- (through cheque) from a pharmaceutical company for once only with 10 % TDS (3500/-) under section 194J.
    Kindly guide me that
    1) Which ITR form should I fill.
    2) And where/ in which column of specified ITR form I have to write amount of 35000/- under section 194J.
    Please help me and reply soon.
    With regards

    • Manish-In your case you have salary income as well as professional income. So you need to use ITR4. You need to mention the amount of Rs.35,000 under head of income from profession.

  203. Where to enter the amount of interest on home loan in online filing of ITR. Please tell me as i have to file my ITR.

    • Prajakta-You need to enter them under tab of Income details.

  204. I am a senior citizen. On my income in the financial year 2013-14, certain amount of IT is not paid . Shall i have to pay the due IT with interest or without interest . Kindly clarify

    • Asha-Please elaborate “certain amount of IT is not paid . Shall i have to pay the due IT with interest or without interest “.

      • While I am preparing to file IT return for the AY 2014-15, I found that I am required to pay Rs 41342 as balance income tax before filing the return. I have paid Rs 247210 as IT against the due tax 288552. As a senior citizen , I am exempted to pay advance tax . Therefore am I required to pay interest also. If yes, how much before 31st July 2014.

        • Asha-If it is for current AY then no need to pay interest.

      • I earn out of salary and bank interest. While I am preparing to file IT return for the AY 2014-15, I found that I am required to pay Rs 41342 as balance income tax before filing the return. I have paid Rs 247210 as IT against the due tax 288552. As a senior citizen , I am exempted to pay advance tax . Therefore am I required to pay interest also. If yes, how much before 31st July 2014.

  205. Sir,

    I have 2 form 16 from my employers as I have joined another company during the financial year. I have calculated my Tax and now I have to pay additional tax.

    1. Which challan no to be used
    2. Category of Tax
    3. Type of Payment

    Regards

    • Rsharma-No need to choose to enter two Form 16, instead if you go to Tax Details tab then you will find the same details over there.

      • Sir , Unable to find in Tax details tab. I have to pay additional tax

        1. Which challan no to be used
        2. Category of Tax
        3. Type of Payment

        • RSharma-It is next to “Income Details”. If you are unable to find that then better to take help of any tax expert of your area.

  206. sir i am a salaried person and have taken home loan. which ITR form should (AY 2014-15) use and where to mention the house loan interest or should i deduct the amount of interest from gross. thanks.

    • Harish-Please use ITR 1. For filing details either contact TRPs or your CA.

  207. Sir,

    I am a salaried person and I have house in another city. I have got rebate on intererst on housing loan and HRA.

    Which ITR form I should use to file return for AY14-15. Will ITR form change if I want to include rent from my house as income

    Regards
    Rajesh

      • Sir What if I want to include rent from my house

        • Rajesh-It is already mentioned above that ITR 1 will be applicable to those who are salaried and who have income from ONE house property. So you can use the same.

  208. I have 2 houses (both are joint ownership with my wife who is not working). For the second home I would like to claim interest on home loan which is more than 1.5L. Both houses are not let out. Can I file using ITR1 by selecting the property as letout and claim the interest which is more than 1.5L (as I’m not receiving any income from the first property)? or should I file using ITR2?

    • Ganesh-If one is let out then you can’t use ITR 1, as it limits to ONE property. Hence use ITR2.

  209. I am having two residential property one is where i reside (in city) and other one is my second-home at native. i am salaried person and having no any other income.

    which ITR form i need to use for filling IT return?

    is it necessary to show rent income ? though i am not receiving any rent from my second-home?

    please help

    • Sagar-If your income is only from salary then you can use ITR 1 SAHAJ.

  210. Sir, i have brought forward loss since last 3 years. And this year i have only dividend and interest income then for carry forward that loss in next year which itr form should i have to file this year???

    • Pratham-Please understand that ITR forms are decided based on source of income but not on carry forward of loss.

  211. I am a salaried employee with PSU with no other source of income. However salary components like HRA, conveyance allowance etc. amount in excess of Rs. 5000 annually. Whether to use ITR-1 or ITR-2 ?

    Further I have a PPF account, whether interest accrued therein requires me to file a return using ITR-2 ?

    • Snigdh-You can use ITR-1. No need to mentioned accrued interest of PPF as it is tax free. Your HRA and allowance will not matter which IT form to you. Instead the source of income matters.

  212. Dear Basu,

    I have home loan, for which I am re-paying the amount. In my form-16, it is mentioned the loan interest amount as loss from house property and that amount is deducted from my gross salary. While I am filing tax returns through online, where I need to mention the same amount? Can I mention as negative amount under Income from one house property OR I can mention my total income after deducting the loan interest amount.

    Regards,
    Sridhar

    • Sridhar-Home loan interest payment will not be considered as loss. Instead you need to get deduction upto Rs.1,50,000 per year under section.24. If you still have confusion then please contact tax expert of your CA who can help you in this matter.

  213. Hi,
    Am a salaried employee of a private concern and an lic agent too.My income includes Salary & Commission. What form should i use to file my returns ITR-1 or ITR-2?
    Thanks

    • Sguna-You can use ITR-4S Sugam as your income includes both salary as well as business.

      • But my Traces show TDS deducted under 192 & 194D…and nothing related to fill in ITR-4S wherein the business details are dealt….is it still ITR-4S i should use

        • USE ITR 2. MAKE IT SIMPLE.

  214. Hi,
    I am salaried employee and i had short term loss in derivatives (FnO) from september 2013 to march 2014.
    Please advise which itr form i should use? should i use ITR2 ?
    Also please advise that the derivative loss (in stock, nifty options and commodities options) can be carry forward or not ? I had both intraday and delivery losses in options.
    Can it be set off against next year short term derivative gain.

      • I have loss in derivatives. (fno in nifty and commodity). I read online that it will be consider as business loss not as capital loss, so for that i have read that we should use ITR4 not ITR2.
        Please advice that ITR4 or IRT2 for business loss?

          • Hi,

            while online e-filing, only two option are coming for me in ITR Form name:
            ITR1 and ITR4s .
            So, i think it should be ITR4s only, but i dont know how to fill NOB BP tab in that.
            What to use in “Name of business” for derivatives. Can i contact you please for filling my income tax. my no. is 8892406595

            • Lokesh-My suggestion is to contact any tax expert or CA of your area who can physically come and help you.

  215. In regards of my question On contract basis in a central government hospital

    • Aggarwal-Whether you are at contract base or regular employee, your income is treated as salary as there is relation of employer and employee to this work. Use ITR1.

  216. I am a doctor employed on contract basis in the year 2013 so that whole income of fy 13-14 is from this source and some interest from fixed deposit. TDS deducted by our accounts office is under 194J. Which itr form shud I use? And if itr4 then how do I show expenditure, do not hv any bills except child’s school fees receipts.

  217. I am a doctor getting pension from Government. I am doing a small practice at my residence and getting income. I have income from one house property. Which form shall I use to file IT return AY 2014-15

  218. Hi Basu
    I have loss in agriculture activities, means the due to drought partial income against my expenditure. I am falling under 30% tax bracket. How it shall be declare and set off for next year. Presently I am filing ITR-2- thanks

  219. i have income from pension and also capital gain loss from commodity and equity transactions(short term) which ITR i should use to file my returns? Pls help.

  220. I have taken home loan in july 2014 and emi also started fm july 2014…..
    I will get possession in sep 2015….
    pl guide on following,
    1.which itr for AY 2015-16 & AY 2016-17?
    2.how to claim tax refund for home loan repayment made fm july 14 to mar 15 in how many parts for how many years?
    3. can i claim stamp duty amount in 80c & in how many parts for how many years?
    4.what else can be claimed for tax saving of home purchase component like service tax, vat, registartion?
    5. where to mention principle, interest & stamp duty amount in online itr form?

    • Girish-Merely having home loan will not change the ITR form. But form selection depends on what type of income you have. You have plenty of doubts which I can’t answer on this platform. Please consult your tax expert.

  221. Sir, I have short term capital loss carried forward from 2007-08. Can I file ITR 4S, if I don’t want to carry it forward further?
    And in case ITR4 has to be filed , can I file it under “No Books” category as per presumptive income ?

    • Deep-Please let me know the nature of capital loss.

      • It was on sale of Equity stocks held for less than one year.

        • Deep-Then please read detailed post once again. You will get clarity.

      • The question is whether I can do away with loss and file ITR – 4S or alternatively Can I file under No Accounts case while carrying forward the loss, assuming it be presumptive income. The answers to these Questions are not very clear from the post.

        • Deep-Better to consult your CA. Because all things can’t be clarified in detail without knowing details.

  222. Sir,

    I am Insurance Agent
    I earn income during the financial year 2013-14 by way commission from insurance policies.
    which ITR Form should i file for my return?

    • Praveen-Please read above post in detail and consider yourself as non salaried.

  223. Hi,
    I am a salaried person with home loan EMI for the self occupied property. I don’t have income from any other sources.
    Which ITR form do I need to fill to file Income Tax Returns?
    Thanks in Advance.

    Anand

  224. My Doubt is an individual, Indian residence, runs a Partnership firm (2-Partners), Both are sharing fixed sum of 20000/month – as monthly income from their earnings, in which ITR form they have to file their return (They does not have any other income).
    Thanks

    • Jeevan-Whether that fixed sharing is from profit or salary?

      • The Fixed sharing of Rs.20000/- is from their Profit earned, and the balance sum is retained for the development of the firm / business / business expenses. The Firm has a separate PAN, My doubt is as an individual which form they will have to use for filing the individual return.
        Thanks

  225. Hi,

    I am a salaried person and have always filed my return online(from cleartax.in or investmentyogi). Actually I used to put my details there and download the final xml file from these website and finally uploading into income tax website.

    but now cleartax doesn’t give xml file but only generate the ITR-1 pdf. So my question is there any other website which generates the xml file?

    • Pulkit-Really I don’t know as I file my ITR my own.

  226. Sir,
    I was running my privet ayurvedic clinic with ayurvedic product shop till september 2014. After that i appointed in government job on contract basis. Which ITR i should file. Is it any record keeping required for previous clinic cum shop. Thanks

  227. Sir , i was working in privet company till december 2014.From january 2014 i joined government job ,but salary is not drawn till june2014.
    Which ITR should i file and how total income is calculated.( salary from janury to march that is not issued due to treasury problem, it may be drawn since july 2014 in accumulated salery )
    Sir i also have to carry forward loss in equity (short term ) .no trading in this financial year.

  228. Hi Basu,

    I like to understand which ITR form to use whilst filing returns for Assessment Year 2014-15 (FY 2013-14).

    I have income from Salary + short-term capital gains (equity / mutual funds – profits booked within a year) + daily margin trading in equities (gains – delivery of shares is not taken).

    My wife is not employed – but, she also has the gains/losses in short-term capital gains and daily margin trading.

    Please advise – (a) if I have to file separate returns for my wife and I, or one return combined for both of us; (b) which ITR form(s) to use.

    Cheers,
    Siva

    • Siva-From your comment we can arrive that you have income from Salary+ Income from Business or Profession. So you can use ITR-4 form, same applies to your wife too. But you need to file it separately.

  229. how to save itr 2014-15 forms,the save option is available or not for 2014-15 itr forms

    • Vamshi-I am unable to understand your doubt. Please elaborate more.

  230. Please confirm if my understanding is right: For a doctor running a clinic: It is mandatory for him to maintain books and also he cannot use form ITR 4S but needs to file ITR – 4

  231. Dear Basu,

    I would like to get it clarified in terms of ‘Income/Loss from house property”. What is this all about?
    I bought a flat and now paying emi for that. It s self occupied. Is there any implications for this under the above said clause?
    I decided to file the returns by my self for me and for my wife this year. So far our company has hired a third property for filing the returns for the employees.

    Regards,
    Saravanan

    • Saravannan-Income from property in the sense not your own residential property but a let out property or any earnings from property. In can your case it is not applicable.

    • There are 3 sections of Income tax under which the individual is benefited in case of housing loan:
      1. Sec 80C – principal repayment up to Rs.1,00,000 (This is a part of all other investments allowed under 80C)
      2. Sec 24B – For self occupied property interest up to Rs.1,50,000 & for let out property interest without any limit.
      3. Sec 80EE – another new section (applicable for FY2013-14 only) with certain conditions to claim interest up to 1,00,000 in addition to Sec 24B

      • Hi Mam,
        Thanks for your clarification and commenting on my small initiative. Today I overwhelmed with your first comment 🙂 Thanks once again Madam.

  232. If a person has received money in the bank from her mother, the source of which is the insurance proceeds received out of her father’s demise, which form should be used.

Share This