I have been filing ITR 4 for the last 6 years under presumptive tax. This year i have a short term capital gain of just Rs.1500. Which ITR should i use for the FY 2024-25.
Can I use ITR 3 for filing under presumptive tax because I have not maintained any books of accounts under the assumption of using ITR 4.
Please clarify.
Presence of short-term capital gains with presumptive business income requires filing ITR-3, not ITR-4 under Section 44AD Taxpayer with presumptive business income and a short-term capital gain must file ITR-3 rather than ITR-4; presence of STCG alongside business income disqualifies filing under ITR-4 even if books were not maintained, so the correct return form is ITR-3 to report both presumptive business income and the capital gain. (AI Summary)
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