ITR form
good morning
last year I filled my return in ITR 4
now can I file the returns in ITR 3
tell about ITR Form please sir
when ever we can change ??
pleae sugest me sir
If a person opts for presumptive taxation scheme then he is also require to follow the same
scheme for next 5 years. If he failed to do so, then presumptive taxation scheme will not be
available for him for next 5 years. [For example, an assessee claims to be taxed on presumptive
basis under Section 44AD for AY 2017-18. For AY 2018-19 and 2019-20 and he offers income
on basis of presumptive taxation scheme. However, for AY 2020-21, he did not opt for
presumptive taxation Scheme. In this case, he will not be eligible to claim benefit of
presumptive taxation scheme for next five AYs, i.e. from AY 2021-22 to 2025-26.]
Further, he is required to keep and maintain books of account and he is also liable for tax audit as
per section 44AB from the AY in which he opts out from the presumptive taxation scheme. [If
his total income exceeds maximum amount not chargeable to tax]
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