I have long term capital loss.

Sir,

I have long term capital loss this year which I want to carry forward. Otherwise it is a big loss.

I fill ITR 4 as I am a freelancer videographer and I claims presumptive income benefit as a professional. Is there a way that I can give details of capital loss and carry forward it, in ITR 4?

 

Replies (6)
Quick Summary
This discussion addresses a freelancer's query about carrying forward a long-term capital loss while filing ITR 4 and claiming presumptive income. While initially uncertain due to conflicting information about ITR 3 and presumptive income, the user learns that it is indeed possible to report both professional income and capital gains/losses. The conversation also touches upon a separate issue regarding book royalty income and deductions under 80QQB when filing ITR 3.

Opt for ITR 3, you will be able to show both professional income under section 44ADA (Presumptive) as well as capital income.

Thanks indeed.

I had a doubt because I was told I cannot use ITR 3 if I am claiming benefit of presumptive income under 44ADA.

Please look at the attached screenshots from reputed sites. They say, capital gains cannot be filed under ITR 4 and presumptive prof fee cannot be filed under ITR 3.

[It does not allow attaching files, so trying to attach in main question or another reply.]

attaching screenshots from reputed sites. They say, capital gains cannot be filed under ITR 4 and presumptive prof fee cannot be filed under ITR 3.

I have both types of incomes: long term capital loss and prof fee (44ADA).

Rest assured, I have done it for one of my client., it is possible.

Thanks again. I will try that.

Can you kindly help me with this issue?

I am filing ITR 3. I have a small income from book royalty. When I enter it as income from other sources (OS) and claim deduction under 80QQB, it shows the amount without my filling it but does not allow deduction (screenshot attached). When I include it as business/ profession, it does not show at all in 80QQB.

Thanks in advance.

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