Which ITR for Presumptive Business and Salary?
Eligible presumptive business income together with salary can generally be reported in ITR-4 if all ITR-4 conditions are satisfied; otherwise, ITR-3 may apply.
Quick Answer
In practical terms, Eligible presumptive business income together with salary can generally be reported in ITR-4 if all ITR-4 conditions are satisfied; otherwise, ITR-3 may apply.
Example
A resident individual with eligible section 44AD business income and salary may fit ITR-4 if total income is within the prescribed limit and none of the exclusions apply.
Do not assume ITR-4
Short-term capital gains, more than two house properties, certain special-rate income, directorship, unlisted equity and other specified conditions can make ITR-4 unavailable.
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