Presumptive Taxation U/S 44ADA and Sort term capital gain tax

Last year filed ITR 4 for presumptive taxation U/S 44ADA. This year I have short term capital gain from Mutual fund. How can I file presumptive tax either ITR4 or ITR 3 ???

You can file ITR 3 which have both the options…

1 Like

@TAXIQ.IN i have been only filing ITR4 with presumptive tax because its easy to fill and file. I am not sure if this is the best option for traders.

I would be much obliged if you can clarify my following doubts so that I can plan for tax efficiency in future.

If there is a loss ( say this financial year FY 18-19), I shd not be filing ITR4. Dy doubts are

  1. Is there any way to avoid audit to report a trading loss under ITR3 along with some profits from say dividends (exempt income), interest on bonds (taxable income).

  2. Assuming in current FY, if I suffer trading loss that is less than the profits from say capital gains ( I already have some capital gain for this FY-18-19 but exempt from tax due to grand fathering clause) and exempt income like dividends, Interest on bonds. Can I carry forward those losses to off set next financial year trading profits?

1 Like

Thanks. In ITR 3 There is a column about profit amount . When u/s 44ADA book is not maintained, how profit is calculated?

In ITR3 , where to show the Income/profit from STCG of debt mutul fund