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First time itr4 filing

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Dilip Khambete

132 Points Posted on 04 December 2025

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.

Aashok Kumar Sharma

Finance/Compliance Consultant

68350 Points Posted on 05 December 2025

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).

Dilip Khambete

132 Points Posted on 05 December 2025

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.