srinu (accountant) (87 Points)
15 March 2018MY CLIENT IS EARNED LIFE INSURANCE COMMISSION 1845000, 5% TDS DEDUCTED, HERE CAN I MAINTAIN BOOKS AND CAN I FILE ITR 3 ONLY? RATHER THAN 44AD, IN PROFIT AND LOSS ACCOUNT CAN DECLARE MORE THAN 8% PROFIT AND PREPARE BALANCE SHEET, FILE ITR 3 FORM PLEASE GIVE CLARIFICATION IN THIS REGARD URGENT
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160987 Points)
Replied 16 March 2018
Yes, Correct.
You have to file ITR3 (AY 2017-18) with complete details like P&L and BS, and declare 8% or more net profit.
CAclubindia
