Dear Experts,
I am working as a Consultant for a software company (not a permanent / company employee). My other incomes are Short time capital gain (Stock trading, in NSE) + Interest from FD + interest from SB + Dividend.
| Income form Freelancing + Consultant | 276000 |
| Short time capital gain (Stock Trading) | 14000 |
| Interest from FD + SB | 44000 |
| Dividend | 4500 |
Shall I know which ITR form to file?.
Thanks for your help
You have to file ITR 3 for AY 2017-18. You may declare professional income u/s. 44ADA.
File ITR2 for these transactions
Sir,
I thank for your reply and time. Please sir, I request you to kindly clarify the following doubts.
1. Shall I have to file ITR-4, If I declare the declare professional income u/s. 44ADA. ?
2. In case of ITR-4, Do I need to add the short time capital gain (stock trading) with professional income ?
3. In case of ITR-4, what are the amount of total sundry debtors, the amount of total sundry creditors, the amount of total Stock-in-trade and Enter the amount of total Cash Balance ?.
Thank in advance sir,
1. If you had only professional income, ITR 4(Sugam) could be used. But having STCG along with PGBP, you have to file ITR 3.
2. No both the incomes are assessed in different heads.
3. In ITR 3, you can choose no accounts maintained option as income assessed u/s. 44ADA. Cash balance as per final balance on last day; other items can be nil.
According to your information ,you have income from more than one heads,so for A/Y 2017-18 ITR 3 will be applicable for you
1.Schedule BP for consultancy income
2. Schedule CG for stcg
3.Schedule OS for interest & dividend income
Hi,
Thank you very much for your reply.
CAclubindia
