Relevant ITR form to file IT return
This query is : Resolved
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Gopalakrishnan. S
(Querist)
25 July 2023
Sir,
One of my friend is a Pensioner and is also running a proprietory business for
the past three years. For the past 2 years, he has filed ITR 4.
This year, ( FY - 22 23 ) he has sold a property and has incurred long term Capital gain.
Now, can he file his IT return in Form ITR 3 for this FY ?
If yes, can he revert back to ITR 4 in the subsequent years ?
Pls. advice.
One of my friend is a Pensioner and is also running a proprietory business for
the past three years. For the past 2 years, he has filed ITR 4.
This year, ( FY - 22 23 ) he has sold a property and has incurred long term Capital gain.
Now, can he file his IT return in Form ITR 3 for this FY ?
If yes, can he revert back to ITR 4 in the subsequent years ?
Pls. advice.
25 July 2023
1. Yes.
2. Yes.
3. He can file his business income u/s.44AD, as usual, in ITR 3. So, no question of discontinuation....
2. Yes.
3. He can file his business income u/s.44AD, as usual, in ITR 3. So, no question of discontinuation....
Gopalakrishnan. S
(Querist)
25 July 2023
Thank you very much Sir.
Message likes :
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25 July 2023
You are welcome.
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