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Itr 3 ot itr 4 (sugam)

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(Querist)
25 April 2017 Dear Sir,
An Assessee who is in Profession and showing net income Rs. 35.00 Lacs and net profit after deducting all expenses is 60%. So he has the option to file ITR 4 (Sugam) but if he wants to file ITR 3 can he file that Return for A.Y. 2017-18 because he maintains books of accounts.

Thanks,
Abhishek.
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Ashiwini Ballodia

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Ashiwini Ballodia (Expert)
25 April 2017 ITR 3 can be filled by parter in partnership firm and not for PGBP, So kindly file ITR4
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Abhishek Roy Choudhury

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Abhishek Roy Choudhury (Querist)
27 April 2017 Dear Sir,
That pertains to A.Y. 2016-17 but from A.Y. 2017-18 ITR 3 can be filed by individuals and HUFs having income from proprietory business or profession. Please confirm it.

Thanks,
Abhishek.
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Ashiwini Ballodia

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Ashiwini Ballodia (Expert)
04 May 2017 For individuals and HUFs having income from a proprietary business
or profession.
Hence, ITR-3 for A.Y. 2017-18 would substitute ITR-4 for A.Y. 2016-17.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
23 October 2021 Yes, he is correct. He can file ITR 3 with financial statements..
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