Which itr form is suited for shopkeepers

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

31 December 2011 DEAR SIR,

I WANTS TO KNOW WHICH ITR FORM IS BEST SUITABLE FOR FILLING RETURN OF SHOPKEEPERS LIKE KARYANA STORE,RETAIL MEDICINE AND BOOKS SELLER ETC

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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31 December 2011 ITR-4 : For Individual and HUFs having income from proprietory business or profession.

SUGAM ITR-4S - For Individual and HUFs having income from Presumptive Business

Querist : Anonymous

Querist : Anonymous (Querist)

01 January 2012 SIR, APNE DONO FORM BTA DIYE , EK FORM BATAO SIR

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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01 January 2012 ITR 4 If you maintain books.

Querist : Anonymous

Querist : Anonymous (Querist)

02 January 2012 THANKS

KYA ISKE FILLING INSTRUCTIONS AAP MUJE EMAIL KAR SAKTE HAI

Querist : Anonymous

Querist : Anonymous (Querist)

15 January 2012 i purchase a property in 2008 @ rs 116000 and i sell it on jan-2011 @ rs 240000.

i wants to know the profit of rs 108000 is filled under what section of itr-4

please solve urgently

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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15 January 2012 From above figure there will be loss. I think you wanted to write sale price as Rs 224000/-.

The gain or loss will be shown in Capital Gain Sheet.

If the property is held for more than 36 months the gain will be Long Term Capital Gain otherwise Short Term Capital Gain.

Querist : Anonymous

Querist : Anonymous (Querist)

16 January 2012 you right i think to write 224000/-

how i indexing my property for tax calculations & tax at what rate 10% or 20%

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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16 January 2012 1st of all check whether you have held the capital asset for more than 36 months or not to determine whether its STCG or LTCG.

Also read from below link for more details...

https://taxguru.in/income-tax/capital-gains-under-income-tax-act-1961.html

Querist : Anonymous

Querist : Anonymous (Querist)

16 January 2012 DEAR SIR,
IF I SELECTED IN FORM ITR-4 THE OPTION I AM NOT LIABLE TO MAINTAIN REGULAR BOOK THEN CAN I FILL THE FULL COLUMN OF P&L SHEET OR ONLY FILL "NO ACCOUNT CASE " COLUMN

FOR FURTHER CLARIFICATION PLEASE GIVE YOUR MOBILE NUMBER

Aashok Kumar Sharma

Aashok Kumar Sharma

(Expert)
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03 August 2025 For shopkeepers like you (karyana store, retail medicine, bookseller, etc.), here’s the best guidance on which ITR form to use:

1. Which ITR Form?
ITR-4 (Sugam) is generally suitable if you want to file under the presumptive taxation scheme (Section 44AD), where you declare income as a percentage (usually 8%) of your turnover, and you are not required to maintain detailed books of accounts.

ITR-3 or ITR-4 (normal) is used if you maintain regular books of accounts and want to report actual profits and losses.

2. If you do NOT maintain regular books:
Choose ITR-4 Sugam and opt for presumptive income.

3. If you maintain regular books of accounts:
Use ITR-3 (which is for income from business/profession with books of accounts).

Or choose ITR-4 and fill out the Profit & Loss and Balance Sheet details properly (not the no-account case).

4. Regarding the "No Account Case" column in ITR-4:
If you opt for presumptive taxation (no accounts), fill only the 'No account case' columns.

Do not fill the detailed P&L and Balance Sheet parts in that case.

Summary for a shopkeeper:
Maintain Books? Taxation Scheme Form to File
No Presumptive (Section 44AD) ITR-4 Sugam
Yes Regular Profit/Loss ITR-3 or ITR-4 (normal)

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