Please let me know how to file ITR3 for presumptive taxation of business/profession.
Cannot file ITR4(S) since there is income from more than 1 house property.
Please advise.
Kanakasabapathi Subramanian (15 Points)
17 July 2017Please let me know how to file ITR3 for presumptive taxation of business/profession.
Cannot file ITR4(S) since there is income from more than 1 house property.
Please advise.
RAJA P M
("Do the Right Thing...!!!")
(126699 Points)
Replied 17 July 2017
AY 2017 - 18...
ITR 3 - For individuals and HUFs having income from a proprietary business or profession
ITR 4 - For presumptive income from Business & Profession
Mr. Kanakasabapathi,
What you want details.....?
Kanakasabapathi Subramanian
(15 Points)
Replied 17 July 2017
Thank you Mr. Raja.
Need to file as individual with income from business/profession. This would indicate that one would need to file ITR4 to take presumptive benefits. However, ITR4 is restricted to income from 1 house property only, which is not my case.
There appears to be no form that allows you to take presumptive taxation and also declare income from more than 1 house property.
RAJA P M
("Do the Right Thing...!!!")
(126699 Points)
Replied 17 July 2017
In My View...
If above situtaion you can file ITR 3. In case you heve no more accounts details then you can select, "Are you liable to maintain accounts as per section 44AA?" - NO... AUDIT INFORMATION..... Then You can Pay Tax on your turn over Above 8%....