Return Filling Suggestions

House Property...

Presumtive income PGBP

Other Source....

TDS...

ITR 4 is applicable for the FY 2016-17...

As ITR 4_Sugam is applicable for income from only one house property , Go for ITR 3.

Mr. Dhirajlal,

Just now I have check the form of ITR 4.

Yes you are 100% correct 2 house property income can't be declare in ITR 4..

In this topic one question I have. Then the person how to declare presumtive income under PGBP in ITR 3 ?

It is not logical that declare 8% or more than 8% profit as presumtive in ITR 3.

"It is not logical that declare 8% or more that 8% profit as presumtive in ITR 3."

Section 44 AD/ADA is applicable to presumptive assessment for eligible business/profession when minimum profit margin is declared as 8/50% respectively.

How an assesse will declare this income under presumptive assessment (who do not wish to maintain accounts), but having 2 house property (rented or deemed rented)?

When ITR4 is not applicable, which ITR applicable to such instance? Just........

As per my opinion,

This person has to file ITR 3 there is no doubt.

This person may declare more than 8% (Actual) profit but not like presumtive, as well as this person is liable to declare P/L and Balance Sheet which is called book of Accounts U/s 44AA.

"liable to declare P/L and Balance Sheet which is called book of Accounts U/s 44AA."

Yes, when he chooses to declare YES for 'whether books of accounts maintained?"

But, if declares No............he need not file BS & P&L , but just few details as per sr. 6 in Schedule BS & Sr. no. 53  in schedule P&L (that is declaration of income u/s 44AD in ITR 3)

For AY 2017-18........ in this case.......... ITR3

Check properly to select tab NO  of 'Are you liable to maintain accounts as per section 44AA?' under Audit Information (a) of 'Schedule Part A -General'.

Fill details of Sr. No. 6a..... 6d of Schedule BS        And  Sr. 53 of Schedule P&L accts.

Good Luck

@ Dhirajlal, Sir we also have the same query as above and while filling ITR3 as said above in NO ACCOUNT CASE we get a message in the end to file BS and PL.

@ Shyam, Were you able to file the return under section 44Ad No account case in ITR3?

Many such 'No account case' returns already filed.  Let the massage pop-up, that is just warning; but if you have properly selected the tabs in schedule 'General' as NO. no problem will arise.

Check to declare required profit margin, TO details and the required fields of sr. 53 of 'P&L' and sr. 6 of 'BS' shedules.  

Good luck........

Dear Sir, I have income from two house properties and business turnover of 105 Lac with 9Lac profit. I tried filling in ITR-3 under no account case as per 44AD, No books selected, No audit selected, respective sr53 and sr6 filled, same profit also shown under sr4 (which is referred to in section 44AD/44ADA/44AE/44B/44BB/44BBA/44BBB/44D/44DA/Chapter-XII-G/ First Schedule of Income-tax Act)

but the utility shows the return to be defective under section 139 and direct to file BS and PL. We have tried using excel/java utilities but with same message in the end.

Read more at: /experts/itr-3-for-presumptive-income-2537574.asp

Report to helpline, it is an utility bug..........

Similar one query was solved last year......

A similar query which was completely OK as per law, but was not accepted by the utility was solved by one simple trick.......

As I do not follow any thread, So I can't say but you can search on the platform for dated 3 or 4th August, 2016.