Set off brought forward loss against presumptive income.

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CM Sood (Querist)
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20 May 2018 I have brought forward business losses(non-speculative) from previous AY after tax audit. This assessment year I want to use Section 44 AD. For this I have to use ITR form 4. In which column do I show set off of brought forward loss. My business is F & O in NSE.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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20 May 2018 you won't be able to set off in ITR_4. Use ITR_3 to claim set off.

CM Sood

CM Sood (Querist)
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20 May 2018 If I have to use ITR 3 then where may I show presumptive income ? There does not seem to be any column in ITR 3 for 44AD

Nikhil Kaushik

Nikhil Kaushik (Expert)
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20 May 2018 look at the bottom of BS and PL sheet.

CM Sood

CM Sood (Querist)
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20 May 2018 Thanks for prompt and kind reply. I will check BS and PL sheets.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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20 May 2018 you are welcome........

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