i have long term capital gain and want to show my income from business u/s 44ad which ITR to be filied......................please help
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Presumptive income and capital gain
Replies (7)
you should file itr 4
Yes, you should go for ITR 4
So if any one having a capital gain of Rs. 100/- then also he should have to maintain the books for its business income and can't take benifit of presumptive taxation mentioned u/s 44AD and 44AE?
Dear All,
Comment of Rohan is quite Valid Logically, but at the same time there is no scope of filing Form 4S in case he has capital gain.
Please , provide info whether Form ITR 4 contains the Feild for 44AD or 44AE or not. Currently my System is not supporting the form.
ITR-4 covers 44AD incomes. You need to cover that in Business Profit Sheet
You can not go for ITR-4Sin case u are having capital gain.
Section 44AA of Income Tax Act, 1961 maintenance of books of account is part of chapter IV-D i.e. PGBP and applicable to this chapter only. The same is not applicable to other heads of income including capital gains i.e. Chapter IV-E.
I have same problem but in ITR4 under Schedule BP
Following both boxes are grayed out - i.e. I can not fill it - how to enable them? Are they linked from some other TAB / fields?
4 Profit or loss included in 1, which is referred to in section 44AD/44AE/44B/44BB/44BBA/44BBB/ 44D/44DA/ Chapter-XII-G/ First Schedule of Income-tax Act
35i - Section 44AD
Please guide.
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