Question ID : 44709

082701

Can Presumptive taxation details be filled in ITR 3 leaving detailed Financial data filled otherwise if because of Capital gain this form is to be filled

Yes, you can fill in the details of presumptive taxation in ITR-3 while also providing detailed financial data for other sections of the form, such as capital gains, which require this specific form. In cases where you have income under the presumptive taxation scheme (e.g., sections 44AD, 44ADA, or 44AE) and also have capital gains, the ITR-3 is the appropriate form to use. You can declare your income from presumptive taxation under the relevant section without needing to provide detailed financial data for that specific income. However, for capital gains and other income that requires detailed information, you must provide the necessary details as required in ITR-3. This approach allows you to take advantage of the simplified reporting under presumptive taxation while still fulfilling the detailed reporting requirements for capital gains and other income sources.