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ITR FORM 3 and 4

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mohammad tarique sohail

accountant

199 Points Posted on 05 September 2021

I am filing ITR 3 since 2015. now I want to file ITR4 onwards . can I file. there will be no issue in future.

Replies (3)

Quick Summary

If you've been filing ITR 3 and are considering switching to ITR 4, it's generally permissible as long as your income type and turnover meet the criteria for ITR 4. While you can switch, ensure ITR 4 is indeed suitable for your income assessment. If you have capital gains or PGBP income, ITR 3 might still be the correct choice. For presumptive taxation under ITR 4, your turnover must be less than 2 crore rupees.

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

212489 Points Posted on 05 September 2021

As such you can file ITR which is suitable to your nature of income/s. It may change every year, as per the requirement, and there is no harm in its change.

Check whether ITR 4 is suitable as per your income assessment. If yes, you can go with it.

But suppose you have capital gains declaration along with PGBP income, ITR 3 should be opted.