I was reading on ITR-4 Form (Sugam) - What is ITR-4, Who Should File, Applicability and How to File ITR-4 For AY 2023-24 that “An individual who is either a director in a company and has invested in unlisted equity shares cannot use this form.”
So, we can not use ITR4, but can we still use ITR3 and file presumptive tax in our normal business if we hold unlisted shares of a company for investment purposes?
Hello @Harshajyoti_Das,
Yes, you can use ITR-3 and report your business income under Presumptive Taxation Scheme. You need to disclose the unlisted share holding in the ITR as well.
Hope this clarifies!
Thanks for your advice, but your portal for filing tax is kind of chaos. Why don’t you fix your tech?
@nithin Quicko is a disaster with lot of issues. Please have your tech team run through a validation before letting these players come in