Presumptive tax losses

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B K D (Querist)
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22 December 2021 I as an individual have been filing presumptive tax for past few years ... This year i am in losses in my business .. This year i have savings and FD interest income and capital gain tax .. How can i show losses in presumptive tax .. i am filing ITR 3 due to capital gain tax .. KINDLY GUIDE .. THE TOTA

B K D

B K D (Querist)
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22 December 2021 what are the deductions that can be availed in presumptive tax for business .. i mean like HRA , 80D OR 80 C??

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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22 December 2021 If you have been filing ITR u/s. 44AD of the act, it is advisable to continue it for at least for five years; or you will have to get books of accounts audited.

B K D

B K D (Querist)
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22 December 2021 THANX FOR THE RESPONSE .. BUT HOW DO I SHOW THE LOSSES ... AND DO I HAVE TO FILE ITR 4 OR I CAN FILE ITR 3 AS I HAVE SHORT TERM CAPITAL GAIN TAX ..

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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22 December 2021 Get your books of account audited, if conditions as per sec. 44AD(4) are satisfied. File ITR 3 as usual with audited data, loss will be calculated by utility.

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