Pritam Dasgupta (49 Points)
25 July 2018
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 25 July 2018
Saifullah Khalid
(Autodidact/Curious )
(633 Points)
Replied 25 July 2018
| Originally posted by : Pritam Dasgupta | ||
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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 .
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 . |
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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 .?
CAclubindia
