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nirmal.b lal   16 July 2024

Income tax efiling

My income for FY 2023-24 falls in following categories

Salary(Form 16)

Business receipts (Form 16 A)

Interest from savings bank 

 Interest from deposit 

Sale of securities and units of mutual fund  

Purchase of securities and units of mutual fund (SIP)

Retirement Benefits (Gratuity,Leave Encashment, EPF)

My concern is as to under which form should I file my returns.



Quick Summary
This discussion addresses an individual's confusion regarding income tax eFiling for FY 2023-24, given a mix of income sources including salary, business receipts, interest, investments, and retirement benefits. While previously filing returns based on salary and bank interest, the inclusion of new income streams has caused uncertainty about the correct filing form. The advice provided suggests consulting a chartered accountant who can guide the filing process based on the specific taxable income and sources.

 4 Replies

T. Kalaiselvan, Advocate (Advocate)     16 July 2024

This is not the first time you are filing your ITR.

You have been filing the returns through your auditor so far. 

Hence even now you may approach him, your auditor will take care of filing your ITR on the basis of taxable income and the sources of income. 

Dr. J C Vashista (Advocate )     17 July 2024

Seek professional services of a local chartered accountant, this is not a legal query.

nirmal.b lal   18 July 2024

Sir

I have been filing my returns myself on the basis of form16 as my income was only through salary and bank interests only.

Its first time that I received income from retirement benefits and other investments like SCSS and annuties.

Thats why I'ma little confused.

Regards.

T. Kalaiselvan, Advocate (Advocate)     18 July 2024

Your CA knows the law in this regard and will guide you to file the ITR, you can follow the instructions rendered by your CA to proceed properly 


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