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WISH TO FILE ITR4 PRESUMTIVE

25 July 2018

My gross income from profession is rs 46,60,000
And others income
Long term capital gain is 8 Lacs
Short term capital gain is 4Lacs
Savings bank interest is Rs. 35000
And previous year i filed ITR3.
Now this year can i file ITR4.?

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5 Replies

RAJA P M ("Do the Right Thing...!!!") (127921 Points)
Replied 25 July 2018

No...
Also You ll file ITR 3 in this ay.

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Pritam Dasgupta (49 Points)
Replied 25 July 2018

Can tell me why im not.........

Saifullah Khalid (Autodidact/Curious ) (633 Points)
Replied 25 July 2018

Originally posted by : Pritam Dasgupta
	My gross income from profession is rs 46,60,000And others incomeLong term capital gain is 8 LacsShort term capital gain is 4LacsSavings bank interest is Rs. 35000And previous year i filed ITR3. Now this year can i file ITR4.?

First make sure whether your nature of profession is eligible under 44ADA or not ? if the answer is YES then you can file under presumptive taxation scheme for profession (44ADA) ...BUT as you are also having capital gains then ITR3 (with option "NO books no accounts case" selected ) is to be filed instead of ITR4 .

Pritam Dasgupta (49 Points)
Replied 25 July 2018

Ok......... thank you............

Krishnasamy Samy (22 Points)
Replied 13 May 2019

Originally posted by : Saifullah Khalid
	Originally posted by : Pritam Dasgupta My gross income from profession is rs 46,60,000And others incomeLong term capital gain is 8 LacsShort term capital gain is 4LacsSavings bank interest is Rs. 35000And previous year i filed ITR3. Now this year can i file ITR4.? First make sure whether your nature of profession is eligible under 44ADA or not ? if the answer is YES then you can file under presumptive taxation scheme for profession (44ADA) ...BUT as you are also having capital gains then ITR3 (with option "NO books no accounts case" selected ) is to be filed instead of ITR4 .

Sir, related to this i have a doubt,

CONDITION: U/s 44AD, lockin period is 5 yrs, if we miss any year in between with 44AD , next 5 yrs we cant avail this benefit for 44AD this is what i read in articles.

now, if i file 44AD in ITR4 for continuous 3 yrs from now, in 4th yr alone there is a capital gain

if this situation arise, what to do .?

in 4th yr, i cant file with ITR4 bcoz there is no capital gain option in that,

if i choose ITR3, and i put the values in 44AD presumptive option alone and capital gain option for 4th yr, and 5th & 6th yr with ITR4 44AD presumptive option, whether this will violate the above condition .?