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8376011028

πŸ“„ ITR Form Confusion – A Common Mistake

A businessman had two income sources: πŸ’Ό Salary from his company πŸ— Business income from his proprietorship

He filed his return in ITR-1 (Sahaj) thinking it’s the simplest option. But here’s the problem: ITR-1 is only for salary, one house property, and other income (like interest). It cannot be used if you have: β€’ Business or professional income β€’ Capital gains β€’ Foreign income or assets β€’ Agricultural income above β‚Ή5,000

πŸ‘‰ Since he reported business income in ITR-1, his return was declared defective under section 139(9). This meant extra compliance, delay in processing, and unnecessary stress.

πŸ’‘ Lesson: Always match your income profile with the correct ITR form before filing. Wrong form = Defective return = More trouble later.

For Professional support and guidance please contact our team VVITYABAZAR

Team VVITYABAZAR B-30, First Floor, Sector-6, Noida, Uttar Pradesh 201301

+91-8376011028, +91-8376011078

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πŸ“„ ITR Form Confusion – A Common Mistake

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