First time itr4 filing

I want to file it return of my son for the first time in 2026 as itr 4, since he is a freelance doctor.
 He has around 20 lakh Rs in his savings account which I have deposited in cash in his account for last 25years as small amounts per month .
I want to file itr 4 where I need to show balance sheet in the return.there is a section in itr 4 where we need to fill these figures.  can i put 20 lakh as capital account in it without showing any thing in the column of sundry creditors?. He does not have any fixed assets as he is a consulting.doctor. he does not have a clinic of his own also since he goes visiting consultant I need some advice on this. respected Members suggestions are most welcome

kind Regards

Replies (2)
Quick Summary
A freelance doctor is filing ITR-4 for the first time and needs guidance on showing a ₹20 lakh cash deposit in their savings account as capital. The advice confirms that showing ₹20 lakh as capital in the balance sheet, matched with bank balance and zero creditors, is valid for ITR-4 under presumptive taxation (44ADA), especially since there are no liabilities or fixed assets.

Yes, you can safely show ₹20 lakh as Capital in the ITR-4 Balance Sheet, matched with “Bank Balance” on the assets side, with ₹0 creditors, since your son has no liabilities or assets.

This is perfectly valid for a first-time ITR-4 filer under presumptive taxation (44ADA).

Thank you so much sir . I was confused as to what to do about this as there are very few cases like this since people generally take loan and start  , i wanted to avoid that. Thanks once again.

 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 26 August 2026
Article Assistant

ANIVESH CONSULTANTS LLP

Gurgaon

CA Inter

View Details
Company
08 September 2026
Semi-Qualified Assitant

Subrahmanyam & Sivudu CA Firm

Hyderabad

CA Inter

View Details
Company
ARTICLESHIP 29 August 2026
Article Assistant

RRPM & ASSOCIATES LLP

Chennai

CA Inter

View Details
Company
19 September 2026
Finance Manager

Mugdha Art Studio

Hyderabad

CA

View Details
Company
28 August 2026
Audit Manager

K A R M & CO

Mumbai

CMA

View Details
Company
09 September 2026
Semi Qualified CA / CA Inter - 2 Groups Cleared

Getmyca Consultant Pvt Ltd

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 16 September 2026
Article Assistant

MANUJ SHARMA AND COMPANY

Noida

CA Inter

View Details
Company
19 September 2026
CA/Semi-CA/BCom

Pravin Sarvaiya

Mumbai

CA Inter

View Details