ITR for Salary with Professional income

Taxation
1

@Quicko
In my form 26AS there is a section 194JB (did 2 months internship and received a stipend after deducting 10% TDS assuming this is professional income) and Section 192 (salary income: I joined as a full-time employee after that). Which ITR do I need to file?

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Hi @abc

Yes, as rightly mentioned by you, TDS u/s 194JB is deducted when you have a professional income. And, TDS u/s 192 is deducted when you have salary income.

Hence, you will be required to file ITR 3 (If you opt for the regular taxation scheme) / ITR 4 (If you opt for the presumptive taxation scheme)

Here’s a read on Which ITR Form Number to Fill? - Learn by Quicko for your reference.

Hope this helps.

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3

Since it was an internship and not one’s business,
wouldn’t a simple ITR-1 suffice?

  • Section 192 (salary income: I joined as a full-time employee after that).

    • ITR-1 - Salary income

  • 194JB (did 2 months internship and received a stipend after deducting 10% TDS

    • ITR-1 - Income from other sources
4

Hi @cvs

Even though it is not one’s business, the employer has deducted TDS u/s 194JB which is for professional services, hence it is recommended to file ITR 3.

ITR 1 would have sufficed if the TDS would not be deducted u/s 194JB.

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