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Itr 4 presumptive taxation

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rohith chary

49 Points Posted on 25 February 2023

If one opts for presumptive taxation scheme .Is he eligible for chapter 6 deduction (80c deductions), in particular.

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Quick Summary

If you opt for the presumptive taxation scheme and file your ITR 4 under the old tax regime, you can generally claim Chapter VI deductions, including those under Section 80C. However, there are specific exclusions. If you've claimed deductions under sections like 10A, 10AA, 10B, 10BA, 80RRB, or 80HH, you cannot use the presumptive scheme under Section 44AD. While you can't claim deductions from Section 30 to 38, Chapter VI A deductions remain available.

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

121546 Points Posted on 25 February 2023

Yes, If ITR 4 filed under old regime, Chapter VI deductions are allowed..

Samarth Pachchigar

43 Points Posted on 26 February 2023

However, if he/she has claimed deduction under sec 10A/10AA/10B/10BA or under section 80RRB or sec 80HH cannot opt presumptive scheme of taxation under section 44AD.

and the person opting for presumptive scheme cannot claim any further deduction under section 30 to 38 however is eligible to claim deduction under chapter VI A of income tax act, 1961