Hello
I have trading income and freelancing income.
I want to opt for a presumptive taxation scheme under s 44 ada.
Which ITR Form will i be required to file?
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ITR Form Trading and Presumptive Taxation Income
Replies (5)
Quick Summary
Itr4 return
File ITR 3.
Can I opt for S. 44ADA in ITR 3
Yes, of course...
Trading income plus freelancing under 44ADA:
• If "trading" means share trading (F&O or intraday), that's business income requiring ITR-3 (ITR-4 doesn't support it). Freelancing (specified profession) can be declared under 44ADA in ITR-3.
• If trading means delivery-based capital gains (not business), ITR-4 isn't allowed either (capital gains beyond 112A Rs 1.25 lakh). Use ITR-3.
• So ITR-3, with 44ADA professional income and trading income (capital gains or business).
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