ITR form for Doctors
There is no specific ITR form for doctors. However, there are certain ITR forms that are more commonly used by doctors. These include:
1. ITR-1:
This is the simplest ITR form and is used by individuals with a simple income. Doctors who have a total income of less than Rs. 5 lakhs and whose total income from business or profession is less than Rs. 25 lakhs can use this form.
2. ITR-2:
This is a more detailed ITR form and is used by individuals with a more complex income. Doctors who have a total income of more than Rs. 5 lakhs or whose total income from business or profession is more than Rs. 25 lakhs can use this form.
3. ITR-4:
This is a special ITR form for professionals, including doctors. Doctors who have opted for the presumptive taxation scheme can use this form.
The ITR form that you use will depend on your individual circumstances. You should consult with a tax advisor to determine the best ITR form for you.
Here are some of the things to keep in mind when choosing an ITR form:
→ Your income:
The ITR form that you use will depend on your total income. If your total income is less than Rs. 5 lakhs, you can use ITR-1. If your total income is more than Rs. 5 lakhs, you will need to use ITR-2 or ITR-4.
→ Your sources of income:
The ITR form that you use will also depend on your sources of income. If your income is only from salary, you can use ITR-1.
However, if you have income from other sources, such as business or profession, you will need to use ITR-2 or ITR-4.
→ Your deductions and exemptions:
The ITR form that you use will also depend on the deductions and exemptions that you are claiming.
If you are claiming a lot of deductions and exemptions, you may need to use ITR-2 or ITR-4.
It is important to choose the correct ITR form to avoid any problems with the Income Tax Department. If you are unsure which ITR form to use, you should consult with a tax advisor.
To visit: https://www.mca.gov.in/
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