ITR & Deductions


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This discussion clarifies which Income Tax Return (ITR) form to use when transitioning from salary income to professional charges with TDS. It confirms that ITR-4 can be used for presumptive income, while ITR-3 is for other cases. Crucially, it advises that deductions under Section 80C and house property loss can still be claimed if the old tax regime is opted for.

21 October 2024 I had salary income till March 2024, so I have filed ITR-1, claiming deductions u/s 80C alongwith house property loss (house loan interest).

From April 2024 onwards, I am receiving professional charges after deduction of TDS. Please advise me the ITR form to be filed from AY 2025-26 onwards and also whether I can claim deductions u/s 80C and house property loss in that return.

21 October 2024 File ITR 4 if income to be declared under presumptive assessment; otherwise ITR 3.
Yes, you can avail the deductions if opted for old regime.

21 October 2024 Thank you Mr.Dhirajlal Rambhai.

21 October 2024 You are welcome.


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