https://www.taxtmi.com/forum/issue?id=120968 Under presumptive taxation in ITR-4 for a professional covered by Section 44ADA, asset and liability disclosure, where applicable, is separate from the relaxed books-of-account regime. If the disclosure schedule is triggered, all assets owned as on 31 March 2026, including self-acquired land and building, inherited property, and specified assets such as shares, vehicles, jewellery, and bank balances, should be considered. Bank balance reporting is not limited to a current account; savings accounts, current accounts, fixed deposits, and other bank deposits are also relevant. en-us Mon, 22 Jun 2026 21:50:22 +0530 Tue, 23 Jun 2026 17:29:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=120968 Under presumptive taxation in ITR-4 for a professional covered by Section 44ADA, asset and liability disclosure, where applicable, is separate from the relaxed books-of-account regime. If the disclosure schedule is triggered, all assets owned as on 31 March 2026, including self-acquired land and building, inherited property, and specified assets such as shares, vehicles, jewellery, and bank balances, should be considered. Bank balance reporting is not limited to a current account; savings accounts, current accounts, fixed deposits, and other bank deposits are also relevant. Discussion-Forum Income Tax Mon, 22 Jun 2026 21:50:22 +0530 https://www.taxtmi.com/forum/issue?id=120968