Partnership Firm ITR-4 Presumptive Income Opting Out
This query is : Resolved
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Rahul Rogha
(Querist)
19 June 2023
Partnership Firm filed ITR-4 under Presumptive Income during previous Assessment Year. How to opt-out of Presumptive Taxation? Also filing ITR-5 option is not available only ITR-4 is available. What to do in case business suffered overall loss?
CA R SEETHARAMAN
(Expert)
19 June 2023
Simply file ITR 5 with loss no need to opt out.
Rahul Rogha
(Querist)
20 June 2023
I have stated that the option to submit ITR-5 is not available, only ITR-4 is available. Is it because last time I filed ITR-4? I don't know.
CA R SEETHARAMAN
(Expert)
20 June 2023
No, ITR 5 is yet to be released for filing wait for it.
Rahul Rogha
(Querist)
21 June 2023
Seeing that the last date to file ITR-5 for non-audit cases is 31st July. Will ITR-5 be available for filing on July 1st?
CA R SEETHARAMAN
(Expert)
21 June 2023
Yes, it will be available in July.
Rahul Rogha
(Querist)
18 July 2023
ITR-5 option is available for offline mode. Not online.
CA R SEETHARAMAN
(Expert)
18 July 2023
File in the available mode.
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