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Which itr form to be filled

Malaiarasan (SSA) (26 Points)

24 April 2017

Dear Experts,

I am working as a Consultant for a software company (not a permanent / company employee). My other incomes are Short time capital gain (Stock trading, in NSE) + Interest from FD + interest from SB + Dividend.

Income form Freelancing + Consultant	276000
Short time capital gain (Stock Trading)	14000
Interest from FD + SB	44000
Dividend	4500

Shall I know which ITR form to file?.

Thanks for your help

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8 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160322 Points)
Replied 24 April 2017

You have to file ITR 3 for AY 2017-18. You may declare professional income u/s. 44ADA.

1 Like

sivaram (Asst Mgr-Taxation) (6918 Points)
Replied 24 April 2017

File ITR2 for these transactions

Malaiarasan (SSA) (26 Points)
Replied 24 April 2017

Sir,

I thank for your reply and time. Please sir, I request you to kindly clarify the following doubts.

1. Shall I have to file ITR-4, If I declare the declare professional income u/s. 44ADA. ?

2. In case of ITR-4, Do I need to add the short time capital gain (stock trading) with professional income ?

3. In case of ITR-4, what are the amount of total sundry debtors, the amount of total sundry creditors, the amount of total Stock-in-trade and Enter the amount of total Cash Balance ?.

Thank in advance sir,

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160322 Points)
Replied 24 April 2017

1. If you had only professional income, ITR 4(Sugam) could be used. But having STCG along with PGBP, you have to file ITR 3.

2. No both the incomes are assessed in different heads.

3. In ITR 3, you can choose no accounts maintained option as income assessed u/s. 44ADA. Cash balance as per final balance on last day; other items can be nil.