u/GekhaRupta

Hi. In continuation of my previous query where I asked for help filing the correct ITR: https://www.reddit.com/r/IndiaTax/s/r2urA6baPV

Brief: I'm a legal professional. I'm filing my Income Tax Return (ITR) for the very first time. I need some advice regarding my rental income.

​So apart from my professional income, I received a sum of ₹2,40,000 as rental income in my savings account in the previous FY.

A little background on the property is that my father bought it years ago in my grandma's name. No dispute ever arose, so a will was never executed. When she passed away last year, she left behind four children (my father and his siblings). My father is a government employee, and his siblings are either retired or housewives.

So my question is ​when I eventually file my returns under ITR-3, do I need to show this ₹2.4 Lakh or not? I have a total of ₹5.3 Lakh credited to my savings account in the previous FY, which includes my professional income, the rental income, transfers from my father, loan repayments, etc.

​Or, should I simply show my professional income, savings account interest, and VDA only and leave out the rental income because even though the ₹2.4 Lakh was credited to my account, it isn't technically my income because I do not own the property.

Please help a fellow out here. Thank you.

Hi. My primary income is from my legal practice, and I want to file my very first ITR under Section 44ADA presumptive taxation. However, when I downloaded the AIS and TIS from the Income Tax portal it shows a ₹3 transaction for a Virtual Digital Asset (VDA). As far as I can remember three years back I had invested a sum of 200 rupees in some crypto money on CoinDCX.

A friend told me to file ITR-3, another told me to file ITR-4 and add this ₹3 entry under the income from other sources head along with the savings account interest amount.

What do I do? Should I wait for the IT portal to open ITR-3 and file my return their to avoid a defective return notice or simply file under ITR-4 (My income is way below the Taxable threshold).