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Want regular business itr3 to presumptive business itr 4

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Amit Kumar

Tax Advocate

137 Points Posted on 08 January 2021

can i change itr form ITR 3 to ITR 4
past 3 year, i filed ITR 3, but now i want to take sec. 44 AD.

Replies (7)

Quick Summary

This discussion clarifies the process of switching from Income Tax Return (ITR) form 3 to ITR form 4, which allows for presumptive taxation under Section 44AD. While it is possible to opt for 44AD, doing so means you must continue with presumptive taxation for five years. If you switch away from 44AD later, you cannot opt for it again for the subsequent five years.

CA. Sourav Sarkar

Chartered Accountant

24588 Points Posted on 08 January 2021

Yes you can file itr 4 by changing it from itr 3 by opting 44ad

Amit Kumar

Tax Advocate

137 Points Posted on 08 January 2021

I heard, there is limitation of 5 year

CA. Sourav Sarkar

Chartered Accountant

24588 Points Posted on 08 January 2021

Yes if you opt for 44ad then you have to maintain presumptive taxation for 5 years

Kapadia Pravin

17269 Points Posted on 08 January 2021

You can opt for 44AD but once you opt you can not go back to regular itr 3. However it is possible to go back to itr3 bit then you won't be able to opt for 44AD for next 5 years.