ITR filing 2024: Forms, eligibility criteria, and what you need to know

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ITR filing 2024: Forms, eligibility criteria, and what you need to know - Business Standard

Quick Summary:

Ravi fits this part because his income is well within that limit.— Other sources like bank interest, dividends, or small amounts of agricultural income (up to Rs 5,000).

So, the ITR-3 form is tailored for people like Arjun who have diverse sources of income, especially from their professional activities.

She can use ITR-4 if her income is presumed under sections 44AD or 44AE (Presumptive taxation scheme lets the taxpayers declare their taxable income at a prescribed rate irrespective of actual profit/gains and in turn relieves them from the burden of maintaining regular books of account and getting the same audited.