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Capital gains on gold bond plus presumptive income

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Dilip Khambete

132 Points Posted on 05 November 2023

Hello

Greetings to you

My sovereign gold bonds matured this year and i have earned capital gains on its maturity, which is tx free

I file my itr under sec 44ada presemtive income scheme for professionals (50% profit ) in itr 4. (Income less than 10 lakhs)

My query is

Should i fill itr4 as usual and put the gains amount in exempt income tab provided in itr 4

Should i fill itr 3 because it is meant for income from capital gains plus business income and fill the presumpfive income tab in itr3

Thanks

Regards

dilip

Replies (3)

Quick Summary

This discussion clarifies how to report capital gains from matured Sovereign Gold Bonds when filing income tax returns under the presumptive income scheme (Section 44ADA) using ITR 4. The consensus is that if you have capital gains, you should file using ITR 3, which is designed for capital gains and business income, rather than ITR 4's exempt income tab.