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44ADA AND STCG - WHICH ITR TO BE FILED

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Tushar Bhatt

21 Points Posted on 09 June 2022

Sir Can anyone guide me when I have professional income showing income u/s 44ADA and STCG during the financial year 2021-22...which ITR to be used and how to show details of income from profession u/s 44ADA.

This error is shown in ITR3.

Can I show my income in no account case.?

Replies (11)

Quick Summary

This discussion addresses the correct Income Tax Return (ITR) form for individuals with professional income under Section 44ADA and Short-Term Capital Gains (STCG) for the financial year 2021-22. It clarifies that if professional receipts exceed Rs 50 lakhs, a tax audit is compulsory, and ITR-3 must be filed. The advice suggests seeking professional help from CAs for accurate filing.

CA Aakarsh Jain

4330 Points Posted on 09 June 2022

Check your inbox

CA Rashmi Gandhi

Chartered Accountant

44442 Points Posted on 09 June 2022

You have to get your accounts audited if receipted are more than Rs 5000000

Eswar Reddy S

CFO- at NHTF

15022 Points Posted on 12 June 2022

If it is profession then the tax audit limit is 50lakhs .

You must file through ITR-3 only

CA Rashmi Gandhi

Chartered Accountant

44442 Points Posted on 13 June 2022

You are opting 44ADA that means it is professional income and it is clearly showing in error that your turnover is above 50 lakhs. So you have to compulsorily get your accounts audited.