sec 44 AD and long term capital gain

Tina Jain (CA) (250 Points)

21 May 2018

whether assessee having long term capital can opt for presumptive taxation scheme , he can file itr 4 sugam for A.Y 2018-2019

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5 Replies

CA Mayur Todmal (Practicing CA) (7756 Points)
Replied 21 May 2018

no , if you have capital gain you can not file itr 4.

CA Sunil Kumar (Chartered Accountant) (4524 Points)
Replied 21 May 2018

you will have to file ITR 3 form.if any one having a capital gain then he can't take benifit of presumptive taxation mentioned u/s 44AD and 44AE.

rama krishnan (12244 Points)
Replied 21 May 2018

that's not the precondition for 44AD and 44AE, that assessees with ltcg/stcg cannot opt presumptive

Tina Jain (CA) (250 Points)
Replied 22 May 2018

if a person is not having any capital gain or loss for that particular year, but he is investing in mutual fund then also he is barred from 44 Ad

rama krishnan (12244 Points)
Replied 22 May 2018

attn Tina.. could you please quote the relevant provisions pls

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