ITR4 - 44AD


This query is : Resolved 

Quick Summary
If you've incurred stock market losses in FY20-21 and are considering filing your Income Tax Return (ITR) using Form ITR4 under Section 44AD, you generally cannot claim those losses. To claim such losses, you would need to file using Form ITR3. However, if you choose not to claim the losses and still wish to file under Section 44AD, then proceeding with ITR4 is permissible.

(Querist)
06 June 2020 i filled ITR4 UNDER SECTION 44AD. last year FY20-21 i have loss from share market. my question is can i filed ITR4 Section 44AD for short term gain-loss from stock market?

c.bakshi (Expert)
07 June 2020 NO, IF YOU WANT TO CLAIM THAT LOSS IN YOUR ITR, YOU HAVE TO FILE ITR 3

ketan (Querist)
07 June 2020 If I don't claim loss than I shoud adopt 44AD?

c.bakshi (Expert)
07 June 2020 YES, IF YOU WANT TO FILE ITR AS PER SECTION 44AD, THEN YOU CAN


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