Which itr- if s.44ada(presumptive bus.) and capital gains

Dear Sirs,

Kindly let me know as to which ITR to file for a person who is adopting

1) Section 44ADA (presumptive income)   and also has

2)Long Term Capital Gains

 

( ITR 4S does not have a column for Long Term Capital Gain)

Please Help

Replies (10)
itr 4s

ITR 3 for AY 2017-18

Originally posted by : Kokkiligadda ramanjaneyulu
itr 4s

However ITR 4s does Not have a column for Long Term Capital Gain

Originally posted by : Dhirajlal Rambhia
ITR 3 for AY 2017-18

 

 

Dear Dhirajlal Sir,

In which Sheet shall i show the Gross Receipts in ITR 3?

(Since i am Not maintaining Books of Account  shall i show it

under the Rows  "NO ACCOUNT CASE" in the "Profit& Loss " Sheet ?

Kindly note that I have adopted Section 44ADA)

ITR - 3 FOR A/Y 2017-18 EARLIER IT WAS ITR-4 AND ITR-4 FOR THE A/Y 2017-18 EARLIER IT WAS ITR-4S

 

THANKS !!

 

Dear Dhirajlal Sir,

In which Sheet shall i show the Gross Receipts in ITR 3?

(Since i am Not maintaining Books of Account  shall i show it

under the Rows  "NO ACCOUNT CASE" in the "Profit& Loss " Sheet ?

Kindly note that I have adopted Section 44ADA)

 

"under the Rows  "NO ACCOUNT CASE" in the "Profit& Loss " Sheet ?"

Yes, Dear.......

Under 53.(ii) For assessee carrying on Profession

Same under BS.... few details like cash at hand sundry creditor etc...

Also check the 'NO' in 'Part A-General' Tab

 

AUDIT INFORMATION

(a) Are you liable to maintain accounts as per section 44AA?    No   
(b) Are you liable for audit under section 44AB?    No
(c) If (b) is Yes, whether the accounts have been audited by an accountant?    Select 

Thank you very much Dhirajlal Rambhia Sir

Most welcome........

Check Shedule BP

35 Profits and gains of business or profession deemed to be under -  
  i Section 44AD 35i  
  ii Section 44ADA 35ii xxxx

 

 

sir, AY 19-20

I choose NO to 44AA and 44AB in General sheet in ITR3, and

I Put the values in 44AD in Presumptive income in P&L 61, gross receipts <25 lakhs only

Q1. whether is it mandatory to fill the details in P&L 64 i(a,b,c,d) .?

Q2. whether is it mandatory to fill the details in Balance sheet in NO ACCOUNT CASE 6 (a,b,c,d).?

Q3. for presumptive calculation, shall i choose ITR3 always to avail the 44AD benefits .?

(reason for Q3 is, in future days,LTCG may or may not arise, at that time ITR3 will support but not ITR4, depending on todays situation ITR forms)

need your kind reply sir...

 

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