POSTED BY April 5, 2013 3:44 pm COMMENTS (4)
ONCan we directly mention ,other income in IT returns form ,when we submit the returns.
Scenerio:
My wife is earning salary by doing part time work ,i.e computer related job, using the internet Apart from that she also does some exibitions of Jwellery and cloths from which she earns some profit. now if this is in cash ,then how should we mention the profit earned from the same ,while filing the returns. For the computer related work she will get a form 16 from the compay, my only question is how to compute the profit from sale of items in the returns…
2021 © Jagoinvestor.com All Right Reserved
Dear Sir,
As per the explanation provided by you, at the first instance it seems that ITR 4S would be applicable for your wife to file returns.
Hope this resolves your query.
Regards,
Sawan
Dear Prashant, Yes ITR-1 is not applicable for your wife’s income heads.
thanks
Ashal
Dear Prashant, the income from the sell of jewelry & cloths etc. ‘ll fall into income from business & profession & she should file her income tax return either in ITR-3 or ITR-4.
thanks
Ashal
Thanks Ashal for the quick reply.So it means no need to fill ITR1 , either ITR-3 or ITR-4 will be fine.. rigth