Regarding selection of ITR Form

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Jashpreet kour (Querist)
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21 July 2023 A person having presumptive income under Sec.44AD and file ITR-4 in AY 2022-23. In AY 2023-24, he has either Capital Gain or Loss apart from presumptive income, then for this AY which ITR need to file. Can option to report income under sec.44AD need to opt out due Capital gain /loss or can continue with ITR-4 in this AY also.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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21 July 2023 He can file ITR 3 for both business income along with capital gains declaration.
He can continue presumptive assessment u/sec. 44AD in ITR 3 also.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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14 September 2024 Good luck.

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