Sec 44ada

Hi,

Yes, you are eligible for section 44ADA.

You should use ITR 3 to file your return.

Hi,

Yes you are eligible. File ITR3.

Regards,

Nikhil.

For shares bought before 31st Jan, the acquisition cost for the purpose of computing the capital gains will be the higher of the actual purchase price or the maximum traded price on January 31.

Long-term capital gains exceeding Rs 1 lakh from sales of shares made on or after April 1, 2018, will be taxed at 10 per cent. However any LTCG before 31st Mar 2018 is exempt.

Hope this clarifies.

Regards,

Nikhil.

Use ITR3. Any sale of long term equity shares before 31.03.2018 is exempt from tax. Concept of 31.01.2018 is applicable for sale of shares in 2018-19. Using 44ADA, 50% of professional income is taxable. If you want to show less than 50% you need to maintain books of accounts and get them audited which is intself is better option.

Hii

You have to file ITR3 and under business income show professional income u/s 44ADA

For shares

Check your broker statement in this you may know date of purchase of shares

itr 4 will be applicable. 44ADA is applicable for presumptive taxation

Hi

Yes, you are eligible for presumptive taxation under section 44ADA. Use ITR 3 for return filing.

There is no ltcg till 31 March 2018.

LTCG will be applicable from 1 April 2018 and will appear in your next year's return.

For shares sold before 31st March 2018, LTCG shall be exempt.

For shares sold after 31st March 2018 and bought before 31st Jan 2018, cost of acquisition shall be the higher of actual COA or highest traded value as on 31st Jan 2018.

Further, no tax is payable upto capital gains of Rs. 1 lac.

44ADA is applicable to you, as you are a film artist, a notified profession u/s 44AA of the Income Tax Act. Under this, you need to offer 50% of your gross receipts from your profession as your income. If your actual profit is less than this, then you need to maintain books of accounts and get them audited. You need to file your IT Return in ITR 3.

The gross receipts from profession are Rs 15 lakhs as mentioned by you. If your rental income is Rs 5 Lakhs or more, then, you also need to get registered under GST. You may need to look into this aspect.

As you have sold your shares in FY 2017-18 itself, the long term capital gains are exempt. It will be taxable from the current financial year only. The actual cost of acquisition or the fair market value as on 31st January 2018, whichever is higher, will be considered as the cost of acquisition for the purpose of computation of long term capital gains.

LTCG will be taxed from 1st April 2018 onward.Any shares sold after that will be taxable.

Yes you are eligible for 44ada ,can use ITR 3for the same.