Income tax filling for 2019-20

This query is : Resolved

SHILPA (Querist)
Follow

26 August 2019 Dear Sir ,I am running Bank of Baroda Customer point and recharges business. My total commission from bank & recharges business was 258000 and net profit was 220000.I am filling ITR-3 , whether I have to use "NO Account case "for filling ITR or any other section i have to use . Pls guide me. Also Pls guide me whether it is mandatory to take GST registration for such business.

When to use NO Account case and other section. Pls guide.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

26 August 2019 GST registration not required. You can't use no account case. Fill p and l and BS in return.

Message likes : 1 times

SHILPA

SHILPA (Querist)
Follow

26 August 2019 Dear Sir ,
Thanks a lot , In P & L whether I have to use 61 ) Section 44AD or 62) 44ADA

or just Commission and expenses to be filled.

Also , Pls guide me whether I am liable to maintain account as per section 44AA , Liable for audit as per section 44AB and liable for audit under section 92E.

Thanks & rgeards
Shilpa

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

26 August 2019 Just Commission and expenses to be filled. Yes 44AA applicable tax audit not applicable.

SHILPA

SHILPA (Querist)
Follow

26 August 2019 thank you very much sir

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now