This discussion clarifies whether owning NSE listed stocks requires a switch from ITR4 to ITR3. The consensus is that you can continue to use ITR4 even if you purchase stocks, as long as you do not sell them in the current financial year. The need to switch to ITR3 only arises when you actually sell stocks.
26 September 2023
last year i filled sec44 ada (profession) in itr4 and i want to invest in stock market and buy stocks, so if i purchase stocks this financial year do i need to switch to itr 3 if i donot sell any stocks this current year.? Or can i continue using Itr4 unless i sell? Thanks in advance.