As a Director you cannot file ITR 1 even if you have income from Salary and Other Source, you may file ITR-2 or ITR-3 based on your income sources:
* Don’t forget to disclose your details of Directorship in ITR Form (i.e. Part A- General Information- Filling Section-“Details of Directorship”)
- ITR-2:
- Eligibility: Individuals not having income from business or profession.
- Applicable Sources of Income:
- Income from salary or pension.
- Income from house property.
- Income from capital gains.
- Income from other sources.
- Foreign assets or foreign income.
- Directors: If you are a director of a company and you do not have income from business or profession, you should file ITR-2.
- ITR-3:
- Eligibility: Individuals having income from business or profession also.
- Applicable Sources of Income:
- Income from salary or pension
- Income from business or profession.
- Income from house property.
- Income from capital gains.
- Income from other sources.
- Directors: If you are a director of a company and have income from business or profession also, you should file ITR-3
Summary:
- ITR-2: File if you are a director and do not have income from business or profession.
- ITR-3: File if you are a director and have income from business or profession.
Choosing the correct form ensures compliance and accurate reporting of your income and tax obligations.