ITR
This query is : Open
14 June 2017
Mr. x is receiving commission (for growing broiler chickens under his owned shed) from a company engaged in poultry farming.
plz suggest which ITR should he file ?
Nikhil Kaushik
(Expert)
14 June 2017
please file ITR-3...........
CA Rashmi Gandhi
(Expert)
14 June 2017
You should file ITR-3 showing commission as bus & prof income.Also fill B/S & P&L to avoid notice u/s 139(3)
Message likes :
5 times
Nikhil Kaushik
(Expert)
14 June 2017
whether BS and PL is to be filled will depend on the turnover. Also the notice is issued under 139(9) and not under 139(3).
Message likes :
1 times
CA Rashmi Gandhi
(Expert)
15 June 2017
It is not depend on turnover, you have to fill always.
Its 139(9)
Message likes :
4 times
Nikhil Kaushik
(Expert)
15 June 2017
Dear Rashmi, please read 44AA(1) and 44AA(2).
CA Rashmi Gandhi
(Expert)
15 June 2017
This sections are for maintaining books but even if you are not maintaining books you have to fill figures in B/S & P&L.
Message likes :
3 times
Nikhil Kaushik
(Expert)
15 June 2017
well. Can't agree unfortunately. would love to know under which section, rule, case law, you can prepare BS and PL without maintaining books! don't know how that works :)
Message likes :
1 times
CA Rashmi Gandhi
(Expert)
15 June 2017
It means only balances of cash,debtors, creditors & stock to be given in B/S & fill gross turnover & profit details in P&L.
CA Rashmi Gandhi
(Expert)
15 June 2017
There is an option to fill details if books are not maintained.
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