Presumptive taxation (sec 44ada)

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 June 2018 Sir/ Ma'am,
I am a resident individual having 3 Residential House Properties in India out of which 1 is considered as self occupied and the other 2 are considered as "Deemed Letout Property". I am claiming professional receipts (which is under Rs. 50 Lakhs as per the the provisions) under section 44ADA (Presumptive Taxation) for F.Y. 2017 - 2018. While filing the form ITR - 4, I am getting the option to include only 1 Property either the "Self occupied Property" or the "Deemed Letout Property"

Can I file my Income Tax return under ITR - 4 for the abovementioned Financial Year ? If I am not eligible to file ITR - 4 then where is it mentioned in the Income Tax Act (Section?) or Rules?

Thanks in Advance.

RAJA P M

RAJA P M (Expert)
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09 June 2018 Yes... If You have more than one HP then You can't file ITR 4 as per Your above said query...

https://www.incometaxindia.gov.in/Supporting%20Files/ITR2017/Instructions/InstructionITR4_2017.pdf

Nikhil Kaushik

Nikhil Kaushik (Expert)
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09 June 2018 please file ITR-3 and claim 44ADA therein itself.

Querist : Anonymous

Querist : Anonymous (Querist)

11 June 2018 Sir,
After checking the ITR - 3 (F.Y. 2017-2018), I did not find any option to claim Presumptive Taxation (Sec 44ADA) in ITR - 3.

Can you please guide me in this regards.

Thanks.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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11 June 2018 please refer the bottom of P&L and BS sheet. Also refer to the schedule BP

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